Also in the Agreement they charge me 1% extra just to keep the place clean and on top of that I charged separately for that.

I am not sure what you mean by a passive investor taking depreciation.When the partnership sells the asset, they will carry out the capital gain, and they should separately report any unrecaptured 1250 gain you have - yes that is taxed max 25%.

I have house and I paid all mortgage payments but in another state than California and own by my LLC to separate liabilities.

I was buying them with a commercial loan and the total value of all the buildings isn't substantial enough to make sense opening a separate LLC for each property.

As you may know, each property has a separate column where we can deduct the property's expenses like: Mortgage Interest paid, Taxes and Repairs.Under what expense would we deduct the cost of a new laptop?

Without that, he has already known 2 issues with the 3 rooms: missing fire block, wrong insulation, wrong heat duct (they open it from the existing duct that is used for the first floor – to get heat in the basement, it is wrong, it needs to have a separate duct).And only after removing all the drywall and ceiling, our builder will be able to tell us if there is anything more to be fixed to bring it up to code.We finally have the certificate of occupancy for the entire basement today - after 8 months.

We meet all the requirements listed in terms of hours, separate books, etc...

The idea would be to then rent out the portion we move out of, so that there are two separate tenants in two separate units.

And while on the phone with them, I realized I can build a wall in the foyer creating a separate entrance for us ( 1st floor tenants ).

We thought about doing separate accounts for capex and deposits as you mentioned above, but ended up opting for just one ‘rental’ account that everything for all our real estate goes in and out of.