We paid $290,000 for the house, got $10,000 added to the mortage for improvements and put 5% down.

Because of this, I wouldn't use a tax deduction as the motivator to applying the capital.Most often, people will roll the funds into another property or back into the property the debt applies to via capital improvements.

Hi Saleh WC to BP In my opinion best way to improve your English and increase your real estate knowledge is to keep reading and listening , here in BP you can find podcasts and articles

Since yours is a smaller house, and you dont NEED central air, nobody in the area has it, you should be able to get the rehab done for WAY less than 40k.

For example, habitual parking in the street, unkept yards, etc. in addition we approve any requests for improvements to the exterior of the property and make sure that they are within the covenants..

When this happened, there was a lot of fraud around driving up the price of a property in a short time without improving the property.

I'm 27 and have been in the US Air Force now for 9 years.

Have the intent to hold them and indeed improve and rent them out.  

Now all insurance companies have conditions of improvements requirements.

I am assuming the tenant would be responsible for space improvements.