Either way, yes it is a write-off. 

Perhaps you can agree that the rest are something that you can use to plan for your own future.

In the end, a majority of inspectors would likely appreciate the fact that you will end up improving the condition and make it safer; especially if you are not trying to use the space as additional utility space or living space; just as long as the Zoning Reviewer doesn't pick your project to become an issue, or just as long as you are not hiding an illegal unit which an inspector notices once on site...One final note;In regards to deconverting your property to a single-family residence in the future; with the Zoning TSL Expansion, many Zoning designations are restricted from deconverting properties away from an existing Multi-Unit condition.

Account for future rent increases by implementing value-add strategies and including provisions for annual rent escalations in lease agreements.

CPAs that really know the back and front of not only fix and flip but investing write offs/tax liability. 

I invested in it, and it was an interesting alternative RE investment platform.

You have 12 months from death of reverse borrower or you need to write to servicer of the loan for an extension which gets you 24 months. 

i'm in hopedale MA. i use rentredi for tenant payments. no complaints, simple, i like it. a BANK that also offers rent collection seems over the top to me. i'd rather keep using my small local bank. i also don't keep security deposits because the laws in MA re: how they can be used are so insane that i'd rather just not deal with it. 

somewhere in the near future they can buy a house again, because the payments made toward the mortgage will raise their credit score.

I am ready to make some changes that will be beneficial to me in my financial future.