Hi,I am looking to organize a Real Estate meetup event in the Northern Virginia Area.

@Dylan Legg, you can look through the local property records.

You must prepare a form 3115 Change in Accounting Method in the current year to correct prior years and get the record set properly for going forward.The form is not for the faint of heart. 

About 3 weeks after I recorded notice of default, the borrower requested to remove NOD because he's doing refinance and new lender wouldn't lend for a house in foreclosure.

I could see a case and historical record for either and eventually both :)

Generally , when losses are recorded on the sale of section 1231 property, that loss is classified as an ordinary loss and is 100% deductible against other ordinary income. 

Also, just for the record: increasing the monthly payment to the lender will not increase your deductions as regards taxes.

It's not for the stickers, it is for the system of organizing a team of drivers and tracking the leads.

For instance if deductible to fix is 1,000 and bill is 1,500 you might want to just pay cash so your insurance rates do not go up and you have a claim on record.

I'm a Broker of Record, my office is located in Northern NJ, and the rules vary by MLS.