Hi everyone,There are couple of ways to value the price of land in depreciation, such as the 80/20 (20% to land) and Using Property Tax assessor's values, or getting an assessment of recently sold lots in the area.I was discussing this with one of the CPAs, and he shared that if the cost of building the house is more than the purchase price, then the land is essentially of no value. 

If you have decent terms on the land with low property taxes, add some insurance and you should still be able to cash flow easily.

What I have done in the past is that we (myself and the contractor) discuss the project with as much detail as possible, what materials will be needed, how many people will work on the project, how long it will take, when they plan to start and finish, work schedule, and what the budget/price will be. 

You may not include income earned that is not on a tax return, an administrator or PHA may consider additional income in that household, a teenager may mow lawns or receive child support that may influence funds available to that household. 

I would base my decision to buy more on my investing goals, am I buying for cash flow, appreciation, or tax savings.

I attempted to do taxes (married, filing jointly with my spouse) on turbo-tax.

You will get your own financing quotes, your own real estate taxes, and your own insurance quotes.  

Renovations on stabilized properties are usually scheduled in-sync lease turnovers.  

A few things to keep in mind when obtaining an FHA 203(k) loan:1) Improvements paid for with a 203(k) loan must generally be completed by a licensed contractor and are subject to approval by an FHA appraiser as well as oversight by the FHA-approved consultant if it’s the standard loan option.2) You must develop a remodeling plan, schedule, timeline and put it in phases. 

Should I still house hack to avoid the capital gains taxes?