I won't bother listing all the expenses, as I don't think the individual itemized list would add to the discussion.

Don't get overwhelmed by the number of groups here . . . jump in and get involved in those conversations that interest you and ask anything and everything you want to know about.

Of course its more complex than this, so you and your CPA will need to sort out the details item by item.

We are passionate urbanists creating partnerships to solve epic problems, starting with a city we know and love while participating in the global conversation of social entrepreneurship.Maybe you could try and do something similar in the area you are targeting?

You say the depreciation is about gone, so the new basis in your primary residence at conversion from a rental will be your original basis in the land plus whatever basis you still have remaining on the depreciation schedule.Just to clarify my earlier remarks.

Nothing for vacancy, long term capital (even if its rehabbed, if you plan to hold for 20 years you'll buy roofs, furnaces, ACs and other pricey items), routine maintenance, make ready costs between tenants (some, but not all, may be covered by security deposits), legal expenses, lengthy evictions, accounting expenses, etc.Now there will be some months, most months even, when you only expenses are the PM, taxes and insurance.

Has anybody been a part of this type of conversion?

Just as selling a property held for 364 days can have a significantly different tax implication than the same one held for 366 days, my task is to identify revenue and expense items where there might be tax year variability.

My question is should I put DW & GD in or is there to many maintenance issues with these items when renters are involved?

I always prefer referrals and the name drop usually helps start the conversation off right.