Home offices should be depreciated over 39 years, not 27.5 years.Alternatively you can take the $5/sq ft safe harbor if the home office is less than 300 sq ft (most are), but I've found that the actual expenses method almost always produces a materially higher home office deduction and is generally the way to go if the taxpayer is okay with 1250 gain from depreciation later down the road.

I dry their houses out or remove mold damaged and fire damaged materials, then we work together to restore their homes to almost brand new.

That just isn't going to happen in any scenario.It doesn't matter if it ends up being a potential short sale either because, referring back to the first paragraph, you aren't going to take a property "subject to" with an active bankruptcy.Bank can call a note for any material breach of the covenants of the loan, if they aren't cured.

It's just a matter of being able to hold on long enough to see that appreciation materialize. 

I had to supplement with other materials when it came to taking the test but it was convenient!

Normally, a roof is considered an integral part of the structure and would be subject to depreciation over 27.5 years or about 3.6% ($3,600) of the total project cost per year.But whenever I have a roof done I ask my roofer to itemize the cost of labor and disposal associated with tearing off the old roof and dumping the worn out material. 

I read in Brandon Turner's book that I can find out the cost of materials and double it to get a good estimate of the total cost of materials+labor together.

My agent sent over an addendum to extend the closing since I'm using a rehab loan and I also had added that all hazardous materials must be removed prior to closing.

The other catch is that when a deal does materialize, any marketing dollars we spent will be withheld from your finders fee.

Are there any Texas investors in the RGV (Harlingen, McAllen, Brownsville, Weslaco, Donna, Mercedes, San Benito) who are willing to share your favorite places to buy materials for rehabs at a great price?