If everything goes right I will be able to refinance and will have created 25% equity, or I may end up having to bring $10-20k to the refinance to get the 75% LTV depending on the appraisal, but even if that's the case it's still a great deal.

Want to be an official moderator for us?

This strategy identifies components of the property that can be depreciated over shorter timeframes (e.g., 5, 7, or 15 years instead of the standard 27.5 or 39 years).

You don't want to be waiting 3 years!

That is to be expected and it usually falls within the acceptable rate at the time.

Hi all, Am excited to engage with the BP community after being in the industry for 9 years!

For 2024, since the property is partly your residence, you can only depreciate the portion rented out, and no loss can be claimed.

Try not to have your PI payments exceed 50% so assuming 50% expenses and short and long term cap x you might be safe.

@Gary R UrenIf the property is zoned for only one home you most likely will not be able to do thisPossibly it could be 123 main st unit a vs b but that is a post office issue and good luck dealing with the post office on this issueI would talk to them and put to mailboxes in the front and see if they can separate it by A and B unit

In a box, $7,200 rent roll on $600k is very good, but we have to be missing some stuff here.