So, I'm not a CPA, let alone a good one, and you should find a good one.If you're married filing jointly, there is not "I claim" "she claims" question.

Being the constant thinker, it dawned on me that MAYBE owning ONE lake front or ocean community unit MIGHT be a good idea for me personally, especially, for the following reasons:1.

Obviously, you CAN receive significant positive cash flow from rentals if you do the work to find great deals.I also think that he makes things WAY TOO COMPLICATED by talking about Cap Rate and Annual Loan Constant!

the postman, trash man, dominos delivery kid, plumber, or any of 1000 others who constantly travel around various neighborhoods, may be able to tip you off to areas and/or houses of interest. after the first time one of those "tips" leads to them suddenly finding an envelope of cash in their hands, well, they'll certainly put extra effort into trying to happen across more properties like that for you.

You cannot claim the credit if any of the following apply.Your modified adjusted gross income is $95,000 or more ($170,000 or more if married filing jointly).You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year.

There is a steep learning curve and a constant barrage of unexpected turns and twists in the road.

Their foreclosure has no bearing on your rent.You would have a tough time suing them for anything and would waste a lot of time and energy going down that path.Although the laws are constantly changing for people in circumstances like yours, it hasn't happened yet where you don't have to pay the rent.

However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter.

If we hear constant negative reinforcement enough times, like a animal with an electric fence, we quickly learn to back off and not to “rock the boatâ€.

Thanks for the responses.Suing and threatening to sue is the constant call of people who simply refuse to blame themselves for their own mistakes.