We wanted to build a cabin for us but learned there is nothing and off grid so it has been sitting there for last three years and paying the property tax. 

If the tax deduction for investment was limited that first year because of the amount I stayed then that's just what it is.

Upon default, our deed of trust specifically allows us to require the borrower to prepay into an account to cover insurance, taxes, or any other unpaid obligations.

As a Tax Baby I finally figured out after 50 years how to offset my tax burden through real estate! 

Is this for conventional financing or something like a debt service loan?

Trying to understand the Net Profits Tax structure and filing and I have a few questions:1) My understanding is that out-of-state rental income is subject to NPT though a credit is applied for any taxes paid to another locality (state tax not included).

I'm going to guess your costs have gone up (insurance, taxes, utilities) and they should be passed on to the tenant.

Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.

However I feel like we are missing out on tax deductions for the business, since those transactions are not being made from the business’s account.

Consider your credit score, debt-to-income ratio, savings for reserves, and mortgage eligibility. 6.