I was thinking to buy real estate in Canada and  other countries that I will be living in.  I

@Jake BaronThere is no "average" that an accountant will carry with them that will advise you saying your taxes will go up or down $$$ based on a certain income level.That answer is based on a wide range of scenario's.At the very least, you need to provide information such as budgeted income/expenses for the real estate property you plan to purchase, in addition you would only be including items related to the investment property.The portion of the property you plan to live in is considered personal.Downpayment is not necessarily deductibleThe cost of the building(not including land) is depreciated over 27.5 years(you can only do this for the investment portion).Closing costs are either immediately expensed or added to basis and depreciated over its useful life.Ohio is a unique state for tax purposes.

:@Reginald Collier first question, do you rent or own the property you live in? I

I am generalizing a bit as this is what I have seen in the markets I haves lived in... I

Rent rates are below market 20-25%.Does this add up to a decent property worth investing in.  I

I've been listening to BP podcast off and on for a couple of years, and now I'm ready to jump in! I

Most people said the following:1) room too small (about 110sq-ft)2) not private (3 bedroom/1 bath)3) lot's of couples wanting to move in(I only allow it if they rent 2 rooms). 

I've always wanted to get into real estate but have been living (mostly) in Japan for the last 9 years and haven't had the opportunity to really dive in.  I

I have used direct mail in the past and targeted a neighborhood I was interested in. I

If it was, that was your first mistake...not the choice of houses, but thinking any house you live in is an investment.If it wasn't, then what difference does it make?