I don't know if you can only claim depreciation for the first 27.5 years of the life of the house, or 27.5 years from when you buy it.Hopefully some of the tax guys will come in here and give you a more solid answer.

Call it the Life of a Property.

The hand-out will typically fall under your negative stigma type occupant, where as the "hand-up" can be a financially savvy graduate student, a hard working blue collar employee, or any walk of life just looking for an affordable opportunity.

Indra,There are certain steps that need to be observed in all that we do in life if we are to achieve results!

I have one property that is rented out to tenants and and I know that any cost from now on is deducted as an expense unless it extends the usefull life, eg. a new roof.

There is actually raw sewage running out near the end of the driveway and road area and I understand the Board of Health has already cited the uncooperative homeowner at least once.

The relationships in the REIA are life-long!

I tell them I'll stop over with cash, three guys and in two hours or less the mobile home is headed down the road with us and is out of their life.

Face it, life happens, you might need to sell, and then no equity means you have to potentially bring money to the table as the seller.

The roads were fine, it was the 2 inches of ice on top of them that was a problem.My 1982 2 wheel drive toyota drove like a champ--kind of real life version of the old Atari game Indy 500 - Ice Race.Fixed electrical, and completed other projects and made it home in time to have pizza with my family.