You don't want to invest more time and money to discover some unresolved lien.

"Only when the tide goes out do you discover who's been swimming naked.

I'm wondering if there is a risk of being fined or even sued later on if it is discovered by the city?

For me I discovered it was best for me to stick with a couple of categories and concentrate on them.

Kyle,Congrats on discovering Real Estate, it has been very good to me and many other investors.Beginning as you are, and buying your first property to live in then move and keep it as a rental is a great way to start out.

I just recently discovered Podcasting, and I am a huge fan.

I've been a BP addict for just a couple of months and just discovered the "off topic" page.

It sounds like the HVAC and basement work are capital improvements and will need to be depreciated as others have said.I would add though that the temporary regulations that went into effect at the beginning of this year allow for disposal if a cost segregation is done to determine structural component basis.

It seems to me that a key component to long-term success in real estate investing is to have good intelligence-gathering abilities so you are in the right place at the right time.

I discovered Homepath a couple of years ago and I strongly recommend them to anybody I talk to.