(yes, I will check with my tax professional also)

When analyzing rental rates, vacancy rates, property taxes, and other financial metrics, it's important to consider various factors.

I'm filing my taxes using TurboTax and completed form 8824 for Fed purposes.

Is there anyone on here in the Brevard, Orange, or Volusia county area that has gone through the tax deed auction process?

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Someone gets injured in the basement your home owners insurance probably will not cover it and the liability would be pushed back on you.Would suggest discuss the finish with a Licensed Contractor, Licensed Expeditor and maybe a zoning attorney in regards to adding a unit to current zoned two unit converting to a 3 unit.Also, when buying a two unit and converting it to a 3 Unit, read your documents with out knowledge of the conversion the bank holding your mortgage could call your mortgage.Let me know if you have any questions.RegardsJoe Scorese

While we do not see income from these properties and are not managing them we do have a significant amount of depreciation and losses that have been assigned to us and carried over from the past couple years.I am invested in some growth/equity focused projects already and am specifically looking in reliable income focused strategies that are tax efficient provided the losses I have from my family.

My CPA advised me to split the generic costs such as property tax and water bills equally between both units, which seems reasonable.

This loan type looks at the rent currently generated by the property OR the anticipated market rents (determined by the appraiser) and compares it to the monthly principal, interest, taxes, insurance and HOA (if applicable).

there are many tax complications?