The extra interest you would be paying is $4972 over the life of the loan (again, assuming min. payments on a 15yr note).

I was born in Edmonton and have spent most of my life state side and have only invested in U.S. property.

They may then be able to cut you a second check for any recoverable depreciation that you can still collect.Also, they are not depreciating the repairs, the depreciation is based off of the usable life that was left in the damaged materials at the time of the loss.

OMG Im from SLOWCALA horse country out there and let me tell ya something after living there almost all my life.

The bankers know it as it has turned their life upside down as well.

When you take the time to really thoroughly go through one, it makes life much much easier, and it slips away to the back of your mind and truly becomes passive which I am assuming you want.  

Hi Scott and congrats on your life improvement. 

The simplest things in life are made complicated by those that don't understand the simplicity...or can't believe it is that simple.You are exchanging 1 mortgage payment for 2, and 1 cash flow for 2...and, if you refi out of the 2nd property, 2 cash flows for 3...and so on.

Has anyone had any involvement with Real Estate For Life?

Welcome to BPYou have come to one of the best forums for learning and hopefully make your REI life a little easierGood Luck