. - Today, if you elect to do 3.5% down with FHA, the mortgage insurance is there for the life of the loan.

@John Yeglinski If you elect AirBnB, you would likely rent out a part of your home (a bedroom or two) to keep it as a primary residence and make it easy to manage.

On a slightly related note...Is there any general consensus on the benefits of electing to use a 421-a tax abatement for newly constructed long-term-holds?

The election should be an indicator.

(coupled with bad loans)Also if interest rates move up (which i think will happen when the new president comes in to office) that will also push down home prices, but in general now is a a great time to buy i think.

Can you elect to be taxed in a different way than a partnership so that the LLC is taxed and youa re only taxed when taking distributions?

Keep in mind the due date of the election is 2 months and 16 days.I can think of much preferred structures to be utilized.

@Jason Sterlingwhen you purchase a rehab foreclosure be sure you place a lot of back into the property ie...money for what you missed/elect ,plumbing, gas piping, AC repairswhat happened on mine was that there was no title- the county had to make a new title for the property it had been sold so many times in the previous refi process, that is how it went to auctionas long as the arv is suitable for the area and you can get it for a deal then it would be a good buy if the rents are not going to make it work then flip it for a small profitget another set of eyes on the property to help you analyze the property maybe look at a cut sheet from one of the forms on BP what your looking for and what is a tear out or a repair-ie most sheetrock damage is a repair unless water damaged then it is a tear out, flooring if it squeaks you can fix that with a nice box of screws, if it has dry rot then it is tear outnetwork with someone in your area maybe a GC to do a walk throughenjoy

So, I'd elect to write it off.

With the elections behind us is there going to be a shift from one party to another that could sway what happens with this legislation?