However, you can carry forward any excess (including depreciation) expenses to future years.

ONLY those amounts paid in excess of fair market rents will be credited toward the down payment for lending purposes and establish the LTV for the required future financing.

Anyway, here are the facts...Condo is vacant (and it is unfurnished).Was never occupied by me or my partner (altho I could say it was and who would know otherwise).Will either be sold or rented.Title is in a Calif S Corp (Dry Mountain Inc.)This is my money partner's entity that he set up earlier this year.Anything else need to know on this subject?

But I concede that an experienced investor's time is valuable and he could be directly creating a competitor but a sizeable upfront fee, a contract for an extended period of time, and a portion of profit potential is excessively geared for that investor.

What is nearby (especially filling stations and dry cleaners)?

I started off with a very decent return rate on those but in the last 3 months the well has ran dry and I am contemplating whether to revamp the copywrite which is simple or just switch the neighborhoods.

Washer's fine, but dryer takes 2 cycles to dry the clothes, and one tenant is complaining.Should we replace the dryer, and if yes, with which brand of COMMERCIAL dryer (maybe Speed Queen?)

Will is almost right, both are back to back closings but in escrow world they are differentiated by the terms wet closing and dry closing.

If the termite damage is dry and not wet, there is a good chance the termites were already remediated.

Prior to that I was building spec houses but once the new sales market dried up I needed to find another to continue to invest in real-estate and property tax sales seemed like the best thing I could find.