Danny Shore,Typically they are amortized over the course of the loan. 27.5 years for residential39 years for commercial.You will add it to the cost basis of the property.As Cody L. said look at IRS Publication 527:http://www.irs.gov/publications/p527/ch02.html Also, I hope this link still works it is a cheat sheet for cost basis.http://i1087.photobucket.com/albums/j466/StevenHamilton99/Homebasis.jpgSome Depreciation reminders:http://www.biggerpockets.com/files/user/StevenHamilton/file/residential-depreciation-chartDoes it increase the value of the home?.

So really your making 2k, and commanding more rent from the 2 car.

I also need to ask about any ethics issues since I am an appraiser.Plan to go to Lowe's and fill out Will Barnard cost sheet (http://www.biggerpockets.com/files/user/BarnardINC) this coming weekend so I can start to get a feel for how much rehab costs are.

Any ideas on how to connect with the active users in my area?

I read an enormous amount submitted by users on this site and I am extremely thankful for everyones input.

, but $1,250 cashflow per month on $100,000, is $15,000 / year, aka 15% cash-on-cash return.Having $100,000 cash to invest, you can definitely command 15% returns.

Those in partnerships may not have as much leeway, but you may notice that a quick call or contract review doesn't hit the billing sheet.This is another area where having a good command of basic RE and customary practice will save you money, more than it may cost to get such training. :)

I'm looking for feed back from PENSCO users?

Maybe you sell the 30 acre parcel as is to someone who's going to turn it into a corn field (totally serious, farmland is, once again, command premium prices).

From the lips of our former Commander in Chief, "Fool me once … ".Thank you for your service!