He purchased it in 1982, so it has a low basis (and tons of deferred maintenance).

Instead, they should be capitalized and amortized along with the purchase basis and your rehab expenses. 

Hi @Lucas HammerI recommend stopping at a different place for coffee everyday of the week.

I must repay it on a biweekly basis out of my paycheck and pay the interest back to myself into my 401K, a great option if you're strapped for a large cash amount, but have a lot in your 401K. 

For painting, it would be on a per job basis.

Take action every day even if it's networking with lenders or attending a REIA or shadowing a rehabber. 

But until then it will always be a case by case basis with no generalized consensus.

There's meetups everyday. 

Pumped about $65k into it so now have a roughly $185k basis in it.

@Kurt Bouma Another thing he failed to mention was that you can take out the basis in your Roth at any time without any taxes or penalties.