So, my plan is to get a loan or line of credit for the renovation for 18 months and then refinance the entire property when the balloon payment comes due. 

Make sure they have real estate experience as location is not an issue, most of us work remotely assisting RE investors with their tax planning.

And just like with the others above there are some good deductions you should be taking advantage of here as well.S-CorpW2 income – that’s easy, you probably understood that your W2 income can be added BACKK-1 income (box 1 & 2) – also pretty self-explanatory, but just in case, it’s added BACKAmortization/Casualty Loss – Added BACKDepreciation 1120s (line 14 & 15) – Added BackHowever….Mortgage Notes, bonds payable in less than 1 year (Schedule L, line 17)- this is SUBTRACTED from your incomeMeals & Entertainment (Schedule M1, Line 3b) – SUBTRACTED from your incomeNon re-occurring Other Income (1120s line 5) – SUBTRACTED from your incomePartnershipsW2, K1 (box 1,2, & 4), Depreciation, Amortization/Casualty Loss – all added BACKNon re-occurring Other Income, Meals and Entertainment, Mortgage Notes payable in less than 1 year, AND Ordinary income from Other (1065 line 4) – all SUBTRACTED from your income*WHEW* What a lot of information and we could probably spend ENDLESS amounts of time on this subject.

I am American, but I moved outside the states a couple years ago, but I expect to start spending more time back in the PNW in the the next few years, and a stretch goal is to be able to accommodate friends and family when they visit, which should be increasingly frequent.

Consider your long-term plans and local zoning regulations carefully to make an informed decision.Good luck!

In fact, I go with the highest deductible as possible and plan to only make a claim if something catastrophic happens.Duplexes (in my experience) rarely get broken into once occupied.

The plan is to conduct mold inspection and remediation after the tenant moves out and then re-rent the property.

If you are planning on investing in Maine, make sure you work with one of us realtors that understands investing and knows the local market so we can advise you properly.

I'll go as far as to tell my tenants, "hey your new rate is $1200 per month but honestly I plan on advertising it for $1500 if you plan on non-renewing."

The city plans to also create a "downtown" space just south of there within the next 10+ years.