If we do not have a seat at the table at times of great change so that our voices can be heard, we will be ignored or taken advantage of when changes occur.

It will probably require multiple steps rather than occur in a single call.

Your basis for depreciation will be:The purchase price of the actual house (take out the land value, that doesn't get depreciated) and then you adjust the basis for the following: Adjusted Basis To figure your property's basis for depreciation, you may have to make certain adjustments (increases and decreases) to the basis of the property for events occurring between the time you acquired the property and the time you placed it in service for business or the production of income.

You do not want to sell your property now but life events occur and you might want to at some stage; you could be surprised by events.

I have a charge off on my credit that occurred 14 months ago; everything else is perfect and DTI is great.

Are there any particulars of the Port Covington renovation that would harm the community?

You want a lender who knows what can happen with a 1/8th point rate jump that occurs between preapproval and rate lock, higher than expected insurance cost, or another shift in the deal.

I really haven't wrapped my head around the seemingly infinite amount of information to be collected through the generosity of people around these forums.I would also encourage you strongly to attend the local REIA here in Milwaukee as well as the BP Brew City Meetup which occurs monthly here in Milwaukee and is totally free to attend. 

I'm working with a general contractor to get an estimate for the rebuild that must occur in order to get the building generating income.

This kind of situation can occur, even when taking safeguards, such as accepting only guests who have proper verification and a positive guest history.