There's a chance the tax ramifications may prevent the gifting and he may keep the property in his name.

The following table shows some of the ADS recovery periods. ...Residential rental property 40 years"Is there something that would prevent us from choosing 40 year depreciation on a new property, if we wanted to reduce the "passive loss carryover"?

My partner and I are thinking somewhere around 15-20% ownership is reasonable in exchange for brokerage services (finding the deal, transactional, management, leasing) AND maintenance services (routine and preventive of up to 10 or so hours per month).

But someone was telling me that i need to, if i am adding a dishwasher because tenants dont clean their plates before putting them in dishwasher and it clogs the pipes.

page=all]When I asked about it, my agent explained to me that the idea behind the enforcement of the agreement was that the state of VA wanted to prevent mortgage fraud.

This is to prevent future occurrences of this same thing.

The occupants may not fight me on the issue to move out which may prevent my having to get a court order for eviction7.

It is assumed by the state that any rental larger than a 1 bedroom will fall into this category at some point because of the anti-discrimination laws that prevent landlords from refusing a family because they have a child.

Assuming I am correct, the local city planning cannot legally prevent it.   

If you are covering it, I would recommend screwing into the floor joists with flooring screws to prevent movement prior to vinyl installation.