One contractor claims he can finish the job in a day with three workers, while others estimate it will take a week.I'm not sure how to proceed with this situation.

It almost reads as if you are buying a house and you haven’t closed on the house you are planning to resale. is this the case?

Hopefully a tax expert can weigh in on this topic, as that's who should be answering your questions.

I've only dealt with residential at this point but am looking into self storage and on my search for commercial I stumbled upon a car dealership property where the owner is moving out of state and motivated to sell the property.

Hey Raghul,This is a classic debate every investor faces at some point.

Or in interest?

The way to handle it is to allocate expenses based on the percentage of the home’s square footage used for rental purposes.Here’s how it works:Calculate Rental Percentage: Add up the square footage of both the in-law suite and the rented room, then divide by the total square footage of the house.Apply This Percentage: Use this rental percentage to deduct a proportionate share of expenses like repairs, utilities, and mortgage interest.This post does not create a CPA-Client relationship.

Hi all, I have been interested in getting involved in real estate investing for quite some time, and I am just now feeling brave enough to start actually taking action!

There is an extremely low success rate going this route.

Happy to provide some resources if you're interested in looking into the possibilities.