So with your income, it likely won't apply depending on your final AGI.However, if you qualify as a "real estate professional" by IRS standards, your rental income can be treated as active.

It was definitely a gamble, because I was assembling furniture up until the night before their check-in :o I only had an opportunity to advertise on FF, because it was the first place we posted and it got enough inquiries right away.

Check them out and pick a favorite.

The sensible thing for the Fed to do would be to return rates a a fairly standard 4% and keep them there and let the market do it's thing.

Before doing cost segregation check with a good accountant whether it is helpful in your case.Meanwhile, read this:https://www.biggerpockets.com/forums/51/topics/1075919-five-... 

@Gabriel Mesa Fairly straightforward in the suburbs.In the City of Detroit you can NOT use zip codes, you can use Neighborhoods if you know what you are doing, but you need a trusted local to check out block-by-block to finalize decisions.Since there's a lot of rentals in the City, you also need to decide BEFORE you start a rehab, if you are targeting selling to a landlord or an owner-occupant buyer.- You tenant-proof a rental, but need higher finishes on an owner-occupant.

You then estimate accrued interest, add some more for fees, a few thousand for foreclosure fees, a few thousand for force placed insurance,check to see if the lender paid taxes, etc.5- the hoa fees can be hard to estimate also.

I think checking with the city to make sure they are okay with the product from a code standpoint, would be the most important thing.

I don't know, but you would 100% want to check in with the existing optometrist, maybe they don't get "walk in" business anyways and do not care and wouldn't mind the like-minded neighbors (I've had mortgage neighbors before, and do not care -- I do mortgages they don't, case in point office mortgages across the country, so I wind up getting business from them), but an ice cream shop is going to be LIVID if you rent the unit next store to a frozen yoghurt shop, since that's a LOT of walk-in business that's now getting split two waysAnd then to make it really fun, here's the question I'll throw back at you.

Last I checked, I think there has to be a set unit count that you have before you would be able to use it, not too sure on that though!