This is why, when an investor buys any property the purchase contract should address what part of the sale price is being paid for the land, the improvements and any personal property, if any.Complete the dwelling before placing it in service as a rental.Your land can be excluded a couple of ways at this point. 1. take the tax assessment value and use that. 2.

<g>I would like to buy someone a house there in Bartlett - but I'll have to look up the address.

to The shorted lender always pays the seller's typical closing costs(sometimes less a few small fees when they get picky, like Fannie) so we don't even address it.

The exterior would be addressed first either way, so that should be a non-issue.

What's the address?

Two sides of depreciation and depletion, one is taxes, the other is under GAAP, accounting and economic factors to address the utility nature of an asset, consumable assets, dirt is not consumable.

@Joshua Dorkin I had to verify my email address again.

Good post Steve, you beat me to the trigger, good stuff.Hi, much of this has been addressed as to "multiple LLC" search that you should get some good info.

They just need their address and apartment number.

So you may need to address this immediately now that the claim is in & the property will remain unoccupied esp as its being repaired.