But if you let him go, and deduct all the cleaning, painting, etc, from his security deposit, then you can get the place spiffed up.If he thinks he's leaving a month early and getting back his entire $1600 he's full of bull.

Plus any of the normal sort of deductions for cleaning, damage, etc.Not a lawyer, so no legal advice here.

From that sum, deduct the purchase price ($240,474.80 - $150K).

I have a tenant and good equity in the house.When I went to refinance my main house, they looked at my W-2"s and took the expenses of my rental and deducted it from my total income.

The previous calculation didn't first deduct the cost.

I have executed Fi Fa(s) relating to such taxes by levying upon the following described properties to writ:Sheriff Sale #: 0809-23575To: Owner / Tenant / Defendant(s) / Defendant in FiFaRAYMOND L.

From that $500 you deduct your mortgage payments and what is left is your true positive cash flow.Now I still maintain that a ratio of 1% can be pretty good if you put 20% down, you will have in most cases true positive cash flow.Am I missing something ?

Points for purchase loans are a deductible expense in the year they're incurred, points for a refi must be deducted over the life of the loan.

Turn current EXPENSES into deductions.

Turn current EXPENSES into deductions.