When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Rentals was not a thought to me in those days I was a land flipper.. had absolutely no interest in being a landlord.. and basically still dont to this day :) yes I have some rentals for tax purposes but not really for wealth building purposes.

Are you building for pure investment purposes or are you looking to use some of the space for personal/personal business use?

They can rent the property they purchase to you (or anyone).The property must be held for investment purposes for at least 24 months immediately following the exchange.

I never did do it, I ended up selling my house that I was thinking of using for that purpose.

I always keep a lockbox at my locations for this purpose.

Here's how to handle your situation for tax purposes based on IRS guidelines:1.

If it was being done on purpose they would do it just before check out and probably put something worth less than a vape.

I wrote the above for informational purposes.

I'm on house number 4 that I've lived in and renovated, so I agree that's a good strategy (I've done it just through life, not actually a purposeful strategy).