I strongly suspect it will be collected on the 1040 as an additional tax on the total amount of investment income (reported on Schedule B, Schedule D, and Schedule E) provided the taxpayer's AGI is over the $200K/$250K high-income threshhold.

What should I hit up while I'm there other than the casinos?

Also, is the supplemental book you refer to the 400-page E-book: Principles of Real Estate Practice ?

When Joe Donnelly initially voted no on Healthcare, I sent him an e-mail praising his decision and encouraging him to stay on course for his constituents and for small business.

It is tough to explain 4 years of experience in one e-mail!

After going back and forth for a couple weeks over e-mail the issue was finally resolved.

If you borrow against a rental property and use the proceeds for, say, a vacation and a new boat, the interest on the loan will not be deducted on Sch E as a rental expense.

You can start deducting expenses, like maintenance, utilities and depreciation on that date before you get rental income.I could send you a more information if you wish to PM me and start an e-mail conversation.Sheldon

Thanks for the quick reply JonI was more thinking of doing purchase with owner financing so i would offer 5.9 purchase price give the 2.4 down payment and try to get 18 month no payment / interest. reposition a little. take a look at these expensesProperty Taxes (1.163% of $9,450,000) $109,904Insurance $ 24,921PG&E $ 67,482Garbage $ 40,136Water/Sewer $ 49,246Payroll (Resident Manager, etc

It was just like this one: http://www.realtor.com/realestateandhomes-detail/40237-176Th-Street-E---Littlerock_Palmdale_CA_93591_1114442001 Again, different line of business from what I do as an investor (still costs about 3-4 Indiana houses - obscene!)