On the other hand, when you buy supplies, you realize the benefit in the current year, so you expense it in the current year.Additionally, the tax break is an incentive to invest in real estate and make our neighborhood nicer.But yes, every time you place a property into service the depreciation resets.

This is specific to this market, each county will have its own rules and regulations.

In your position I think YOU should check zoning regulations and see if its even allowed.Did this conversation happen before or after the lease was signed:Tenant casually asked me if I did not mind if she took care of some of her friends kids to make some extra money.

The flip took a little longer than expected, since I had to learn the process of lining up Sub-Contractors, scope of work, where to buy supplies and the overall process of flipping a house (most of the work was done at night since I am in the Military and on weekends).

@Gautam Venkatesan It depends on what regulation is being followed by the portals, 506(b) or 506(c).

HUD also supplies a Property Condition Report with their listings, but I would not rely on it exclusively.

Some great REIA's around STL and can never beat the limitless supply of content BP provides.

That would warrant an *** chewin if so.First off, get a copy of the CC&Rs and Rules & Regulations.

Purchase inexpensive homes $5000-$20000 (I have an inexhaustible supply of these kind of homes they are not junk they are totally livable and not in need of repairs.

That's right Andy, he's worried that VA might not guarantee the loan for that specific property because it's non conforming to zoning regulations in that area.