In Texas, it isn't and it could hurt your bottom line very fast.

You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring. 

So the property I bought had previous termite damage and we are having it repaired and treated however. The pest company says for termites it will be 995 start fee and then 22 dollars a month. Pesticides are 70 start ...

My unit is a 2/2 in Destin, but on the North side of the highway. 

Hope this helps, and best of luck on your journey Priya!

Hey there, I'm a bit confused on how you are getting the refinance to be at 4% for a cash out refi.

I would just like to know if any of you had any advice for me on your journeys and how you guys were able to get to where you were.

Wrapping up renovations on one side of my first duplex and I closed in July.

Can you all share insight on what I important aspects of property taxes I should be building knowledge on.

(We used our cash on this one and are using a dscr loan on the next one.)Deal number 2 has already been purchased, and we are eyeing deal number 3 right now.