I schedule a quarterly inspection for the heating system/ furnace for the first two quarters.

If not, at some point when you sell it, you will pay capital gains tax on the appreciation between its value and what it was bought at, either by the LLC or you.Going forward as a rental property, you would convert its basis to a fair market value (or what you paid + capital improvements, whichever is lower) and start depreciating the building % of that (usually 50-70%) on a 27.5 year schedule.

Carpet is depreciated on a 5 year schedule (or 9 with the alternative plan).

PM me if you would like to schedule a call. 

Everything was as promised and as scheduled.  

Those expenses include:RE taxesInsuranceMortgage Interest Depreciation - (amount you paid for house+improvements/27.5)UtilitiesRepairsAdvertisingFor a full list of "usual" expenses, search Schedule E on the web.In many instances, landlords make little to no money on paper.  

When it's an REO and I'm brokering, I don't even bother checking the rates of most end-lenders (but I'll shop the crap out of it on a refi that's 100% on your schedule).Close the thing today. 

I've been traveling through Mexico, Thailand, Philippines, and now in Taipei, so haven't been doing meetups lately, but will schedule one for when I get back in the US in March after @Al Williamson's Summit at the Guild in Sacramento.

They don't need to be the beneficiary, but they'll want to have an assignment of collateral so that they get paid off before your beneficiary does.A term policy will be very inexpensive.A general rule of thumb is that if the premium is tax deductible, then the death benefit will be taxable too. The

In the motion to sell documents it usually states the property is "subject to all liens and encumbrances, if any" and then usually follows a list of the liens in the debtor's Schedule D.