I just give him a good discount on his rent, and water him with some good gifts periodically. 

For this purpose, the adjusted basis for determining loss shall be the lesser of either of the following amounts, adjusted as prescribed in § 1.1011-1 for the period subsequent to the conversion of the property to income-producing purposes:(i) The fair market value of the property at the time of conversion, or(ii) The adjusted basis for loss, at the time of conversion, determined under § 1.1011-1 but without reference to the fair market value.

And then something happened on the way to the bank...HELOCs are typically only a 10-year amoritization period. 

It tells you that you assumed that the next 15 years of your holding period, that your CASH FLOW NEVER CHANGES.IF someone gave me this IRR Spreadsheet, I would just walk away from them because it's total B.S.

Hello,I was curious about the possibility of obtaining a mortgage as contract worker, if any of you know a way to get a mortgage in my current situation please let me know.My situation:Age: 23 graduated college with BS in Mechanical EngineeringJob: Working as a Mechanical Engineer at Western Digital through a contract agency (5 months in), I will start my second 6 month contract period in late February.

So if I could invest and get 10% ownership of a larger deal, with the efficiency that brings in: solid property management, less volatile vacancy figures, etc. would that be a the better route than trying to do it on my own with a much smaller deal?

Should I be reporting rental income & expenses separately during the two time periods, (before and after moving them to LLC) or can I just report the whole year of income & expense together under the LLC?

@Wayne Brooks, Can you point me to where that 2-year wait period is referenced by HUD? 

The best deal on the strip is the 24 hour buffet, which is all you can eat buffet at various casinos for a period of 24 hours.

Hopefully it helps clear things up:"FICO gives you a 30-day grace period before certain loan inquiries are reflected in your FICO® credit scores.