keep in mind... 90% of Americans only buy a home to live in a few times in their life.. they are not investors and as such will still rely on  Agents  lawyers  title and escrow companies.. inspectors lenders etc.. to help them through the process.

Hi, i'd like to present myself, my name is Adrien, i have dual citizenship ( French & American).I've lived in France almost my entire life and settled to the US a bit more than two years ago to see how life goes here.

Generally the phrase used is "any expense that is ordinary and necessary for the production of income is deductible".

American Underground (coworking space) has a huge presence (they've expanded several times), as well as the Tobacco Campus (more coworking/office spaces).  

Rental Income 115,975.00Total Income 115,975.00Gross Profit 115,975.00ExpenseAdvertising and Promotion 520.00Deposit Refund 775.00Dues and Subscriptions 72.00Insurance Expense 5,328.15Repairs and Maintenance 8,059.36SALARIES 10,985.75TAXES AND LICENSES 9,293.00Utilities 23,137.46Total Expense 58,170.72Net Ordinary Income 57,804.28Net Income 57,804.28This is what I have gotten from them.  

In your first example of selling the home the $15,000 will be taxed as ordinary income to you.In your second question about rent, the gross rents you receive are reported on Schedule E of your tax return and can be offset with expenses related to the rental home such as maintenance and mortgage interest.

@Daniel DietzDistributions of pre-tax funds (as opposed to Roth) from retirement accounts are taxed as ordinary income based on the fair market value at distribution.Being that all the money that went in is pre-tax and had the benefit of growing on a tax-deferred basis (i.e., compounded growth over time did not have the drag of taxes) anything that comes out is income.The FMV is based on all factors that would impact the appraised value.

In addition, is anyone aware of multi-family developments in American Fork and Lehi?

Guy Maris IV at Standard AbstractAndrew at American AbstractStacey and West Little Rock TitlePM me and I can send you specific contact info if interested.

The BRRR strategy has always called out to me, and I figured if people can invest out of state, then I should be able to do it while living overseas in Abu Dhabi (I'm American).