@Edgar De La TorreThere are a bunch of wholesalers groups on Facebook now.

See Notice 2015-82, Increase in De Minimis Safe Harbor Limit for Taxpayers Without an Applicable Financial Statement(pdf), on the IRS Web site for details concerning this change.

There was a 100 yr old house in De Beque, CO that had beautiful stone on the outside- a rehab co bought it for $35k, slapped paint, vinyl siding, flooring, new appliances and tore down the old garage that was in the driveway- & sold it three months later for $120k.

Buying into a syndicated Tenant-In-Common Investment Property (TIC) Purchasing a beneficial interest in a Delaware Statutory Trust Investment Property (DST) @Leslie Pappas can address these in greater detail. 

The Delaware Valley Investment Group is one of the more popular ones with subgroups today. 

Newish washer / dryer, both high end3-season porchBig deck, nice back yard, fire pitQuiet cul-de-sac with a park at the end (very rare for the city it's in)Public transportation on the corner to just about anywhere in the metro with transfers2 - 3 minutes from multiple major highways / freewaysWalking distance (or close to it)to major mall (Southdale) and premium shopping (Galleria in Edina, MN)Potential marketing points / targets:The home is < 2 miles from the Best Buy HQ, and public transport goes straight thereAbout 10 minutes from MSP airportAbout 10 - 20 minutes from downtown Minneapolis, Mall of America, and most major concert or event venues in the city, and just a few minutes more from all of the same in Saint PaulEasy access to the west suburbs, which means access to things like Hazeltine GC (regular host to major golf tournaments, like the Ryder Cup this past year)Minnesota / Twin Cities are home to 17 Fortune 500 companies (http://www.twincities.com/2017/02/06/minnesota-has...)I totally expect making this a vacation rental to mean it will take more of my time, and not necessarily a trivial amount.

We have the paper work for the work done on the mold also (that he caused - I have a feeling it was done on purpose by NOT using the de-humidification system) He is being evicted for multiple lease violations (Not paying water bill (over $1000) or the sewer bill (over $400) and making changes without written consent and finally not paying 50% rent - he told us over the phone he would not pay until we agreed to extend his lease) My question is: Will judges see through this frivolous lawsuit?

@Brigitte GarrettThe Repair Regulations that passed a couple years ago allowed a couple different exceptions for you to expense items that normally may had to be capitalized.The 2% rule is of the exceptionsAnother exception is the de minimis $2,500 cost.You do not have to qualify under all of the exceptions.

I had a similar experience with an apartment in Rio de Janeiro.  

@Chris Penny, even if the life of the items you bought are greater than a year, you can deduct them under tax safe harbor rule, de minimis rule.