Or does it just cover you if the tenant damages the property?

I'm going to effectively have just over 1m dollars cash money to invest in something.

BUT, the kicker is that you don't "make" the additional money in tax benefit, you just borrow it temporarily, because you will have to effectively pay it back through recaptured depreciation when you sell so the real calculation is:[b]Additional current year (CY) deductions x CY income tax rate = CY cash "savings"&CY cash "savings" x interest rate x # of years between when you claim the accelerated deduction and when you sell = real net benefit.

And, that kind of activity is what makes it hard for the honest working people to get past the damage done.BTW: If any of those empty properties has a swimming pool, I have an end buy in wanting a place in Houston.

I personally believe this to be true and have found it to be a very effective tool in my life.

You completely ignored management (whether you do it or not), maintenance, capital expenses, vacancies, utilities during vacancies, advertising, entity maintenance, legal fees, damage done by tenants, evictions, court costs, lawsuits, fuel so that you can drive to your rental 1 1/2 hours away, etc, etc, etc.

I'm in Texas and I presented the attorney with specific information to a particular property so that may have had an effect on the price.I'd like to hear form others who may have gone through this.

It will effect your DTI and credit scoresb.

(viii) aids or offers or attempts to aid in locating or obtaining real estate for purchase or lease;(ix) procures or assists in procuring a prospect to effect the sale, exchange, or lease of real estate; or(x) procures or assists in procuring property to effect the sale, exchange, or lease of real estate . . ."

You can't run credit , and you won't be able to collect should there be damages.