This does not include the tax write-offs for new systems and the expense of installing them.

This lower income housing.

I think some markets, mainly the STR runners, have another 10-15% to go then the markets hit by HOA/HOI/Taxes still have a bit more correction to go for. 

Looking for advice on how to maximize tax benefits on an upcoming conversion of my primary home to a long term rental (temporarily).

Price cuts stem from a few things: - Agents/PM's over promising on income- Buyers not doing their own due dilligence- Buyers thinking they can take a place that hasn't changed since 07 and bring in the same amount of income as a new build that had an interior designer come in and make it sweet.That goes for The Palms, Destin, and any other major market.

If you property is in Detroit you setup a landlord account with the water company and any tenant that comes in opens a account in their name and follows them in your case it will be you and then a tax lien on the property they will get their money either way.

I do work a full time job which is my primary income as well. 

The best part about it is it's easy to tag your transactions for each property with categories that sync to your Schedule E for taxes, making tax prep super easy.

If you take over the loan subject to, which we sometimes do, it stills leaves a problem with his debt to income ratio in qualifying for a new loan.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $4,000

Cash invested: $35,000

This was a big project. This property is a duplex owned by 1 family. The mom l...