Hello BP folks,Here is a real scenario for one of my properties with regard to how to use the Safe Harbor for Small Taxpayers, Routine Maintenance, and/or De Minimis options.Property LCT has an original basis (just the building) of $70,000Here is the work performed on the property during 2016:1) The following done as part of a make-ready/turn over.  

In both sets of those example routine errors that >75% of tax professionals (who are mostly idiots, just like my profession) will make 100% of the time (and there are MANY others) it can be solved on a refinance transaction where timing isn't an issue, but our time-sensitive purchase transactions - where it takes the tax professional more than 48 hours to respond to a simple email with clarity when we have a 21 day close of escrow that the client is contractually obligated to (I'm already hearing your common sense objections, and do not disagree, but most tax professionals take days and weeks to respond to simple emails) - are sometimes screwed up.

It'll start to become more passive after awhile as the routine gets familiar. 

This routine of k-12 five days a week not only educates us, it serves as a daycare, and it preps us for the same basic routine of getting up in the morning and getting ready for work and clocking in on time, or there's consequences.    

HI Jason, Unfortunately, you must reinvest the net sale price ($750,000 less routine selling expenses) in order to defer all of your taxable gain. 

Employer Contributions: Employer Contributions may be distributed upon the 401k participant’s severance from employment, death, or disability.

My wife and I are currently disabled and our incomes are derived from being retired.Can we invest in real estate if we live on a fixed income ?

It's usually done as a percentage of your rent payment, and would probably depend based on having an inspection done.In general people set aside 10% of gross rent for management, 5-10% (or even more) for routine maintenance, and the same amount for CapEx unless you know something needs to be replaced sooner.Provided the renovations on this house were done completely and correctly I would use between 5-7% for repairs and maintenance.

Per the HUD guidelines, there are only two questions you can ask, IF the answers are not clearly obvious. 1) Does the prospective resident have a qualifying disability?

For a long distance landlord, it is essential that you inquire about regular/routine inspections with in your management agreement.