Curious how you can end up with a loss On assets that have an extended life the IRS says okay this should go down in value and be used for multiple years so you get to deduct a portion of it's value each yearSo for residential real estate that's 27.5So you get to take a deduction every year for 1/27.5th of your building's value You didn't write a check for this deduction, no cash out.

I want to put in a clause that the premises should be used at most by 2 adults and not have guests for extended period of time.Is this language correct and ok to use in a lease agreement?

If the tenant is good, I will renegotiate the lease and extend. 

No law says one must wait until April, or extend until October, to file one's taxes.Maybe this time when we do our taxes, we're less aggressive with under-reporting our income and over-reporting our expenses, maybe we're a little more honest about it all with Uncle Sam, so when we hit up his wife, Aunt Fannie Mae, she's nicer to us.

Keeps me from getting financially over extended when at the same time, I have plenty of manpower and readiness to manage the project (and its always around Houston)  

Or extend to 15 years?

He then went on to tell me immediately about all those people that went default about 10 years ago and how I should worry about being over extended.

For example, we have low caps for what we can charge a tenant for not posting payment when due, so a simple workaround is that we actually agree to a higher rent amount and extend a monthly discount for payment in full posted by the 1st.

(caveat to new investors, this extended hold was only affordable because I don't have a mortgage on this property and not recommended.) 

Small maintenance issues like gutters needing cleaned out, dirt around home, extended down spouts leave water sitting by your foundation.