You can deduct your interest, not your principal payments.

Hi everyone, my name is Levi Lewis and I am student.

Make sure the coverage, amounts, and deductable are not just acceptable to your insurance carrier, but acceptable to you as well.

It seems like you already know the answer and that the extra $500 per month (some of which will be deductable so it's a bit less) will be a lot cheaper than a legal battle when he final "goes too far".So the problem probably comes down to "how do you fire your FIL?"

I receive all that interest deduction on a personal residence, which helps me save a few thousand in taxes.

How high is the deductible?

I've read a few threads advising the purchase of newer units because a higher % is allocated tax wise toward the building (improvements) vs. land, so the depreciation deduction is greater.

Add up all your assets and deduct your liabilities.

Which interest is deductible?

I am assuming that since they still own the property they would still be able to use the tax deductions for depreciation, if this isnt right feel free to correct me.