If the property is no longer an OO and you have a claim, they may not pay.  

My agent told me that if an investor were to just buy a standard policy and a claim is made on vacant property with work in progress the insurer won't pay a cent.     

Section179 simply lets you claim the full depreciation Now, as opposed to being spread out over 5-7 years.  

Just to clarify though -- "the spot" is not visible or wet/soft to the touch (in my opinion) -- it's just an area that he claimed was damp.

It is difficult to acquire personal property as a business, but you can quit-claim deed it to an LLC shortly thereafter.  

Wayne & Natalie - I've been trying to confirm this issue for some time now and I fell across the attached IRS document and if I'm reading it right, page 17 exert b. claims that If i've lived in the house for less than 2 years, I can indeed prorate it by the number of days lived in the house out of the 730 days in a 2 year period.

As they do not have any money to claim back they just leave and trash the property and then I go through a major number of repairs, the only advise that the PM is suggesting me is to get the invoice and send this to 'collections' but I never see this money back.

Hello everyone -So I just wrapped up my first year as an investor and landlord (great experience so far) and I'm in a situation where I need to decide whether to take one of my tenants to small claims court or just eat the losses as a learning experience.The property I acquired is a commercial  office/warehouse property with 8 units: two units are shared and there was 1 vacancy.  

She claimed it was due to sanitary issues.

Hi @Ross Drucker,You know that Fannie's cap is 10 financed properties, right, not the 4 that many people claim?