I wrote the above for informational purposes.

Area agents sold 8,518 single-family homes last month compared to the last record high of 8,367 in June 2017.

The purpose of my trip is actually two-fold - I will be spending 2 days purely for leisure doing some sightseeing and I will have 3 days with property visits and meetings.

If you name your LLC after yourself it kind of defeats the purpose of having an LLC (separating your personal finances from those of the business).

One just need read the law for a very easy understandingThe preceding sentence shall not apply to any foreign taxes described in subsection (a)(3) or to any taxes described in paragraph (1) and (2) of subsection (a) which are paid or accrued in carrying on a trade or business or an activity described in section 212.And then the reference from the above law to IRS Code 212(1) It has been paid or incurred by the taxpayer during the taxable year (i) for the production or collection of income which, if and when realized, will be required to be included in income for Federal income tax purposes, or (ii) for the management, conservation, or maintenance of property held for the production of such income, or (iii) in connection with the determination, collection, or refund of any tax; and(2) It is an ordinary and necessary expense for any of the purposes stated in subparagraph (1) of this paragraph.And for even simplified version, just look at the IRS guidance on the subject...What Deductions Can I Take as an Owner of Rental Property?

Are you asking if you can deduct depreciation for the purpose of local taxes?

However, I learned that if I convert this one to rental house, the cost basis has to be the purchase price instead of the market price at this moment. which means if I convert the house this year and sell it in a few years, the 100k appreciation happened when I was using it as primary residence is taxable. 1031 is an option but what if I need the sales proceeds for other purpose?

I'm not asking for profitability, I know how to run the numbers for that....As I said I'm asking about the price of the structure compared to other four unit buildings in the area there, and since it is a four unit you don't value it by commercial standards....

I'll let you know what I learn and look forward to comparing notes as we each enter this arena!

I'm still new and have a tiny portfolio compared to many others, but I'm over the first step and constantly falling back on this quote and writing my goals to keep this thing moving forward.