Instead, it is an adjustment to cost basis and recovered through depreciation only after the property is put in service as a rental.The IRS goes a step further and tells us that repairs needed to make the property ready to rent are also adjustments to basis and not expenses.

Matt when I get comps that are a little bit different I use a trick I learned about a month ago which is adjusting on the difference in sq ft and/or number of b/b, lot size, year built, and also you have to take into account what type of terms were on those comps when they sold.

., at that point I can re-evaluate the value of the property and adjust it with the new tenant.I was running the numbers on the next property I want to purchase, and using a similar scenario as this one, (assuming I purchase the property for 5% below appraised value) with 20% down, on a 24-month contract I'd still make about 70% return WITHOUT the 2% increase (closer to 100% with it).

(It is not a repossession if the buyer puts the property up for sale and you repurchase it.)You will keep essentially the same adjusted basis in the repossessed property you had before the sale.

Above $177k - No Go.They go by adjusted gross income (AGI) I believe - Don't believe it matters where the income comes from.I'm not a CPA, so take what I say with a grain of salt.

Do they start another 180 day Extended period at the same list price or do they adjust the list price?

The adjustments are that I must be very conscious and particular about which acquisitions to take down.

Then, have them re-evaluate your budget by submitting a revision and ask them to adjust their numbers.Good Luck!

Holding TX to 80 yards and THREE first downs was proof.Second half- I learned that TX was better creating adjustments to force a tiring BYU defense to defend the option was well done.

Pretty sure it's not adjustable.