Points are pre-paid interest and amortized over the life of the loan.You cost basis for depreciation is from your costs of acquisition as may be allocated, less the fair market value of the land if that value is not stated in the purchase contract, which you should do, state the value as opposed to claiming a valuation or using an assessed value that would usually be lower. :)

I use the card for all of my day to day purchases because it offers better protection against fraud than a debit card. 

Here are the $s:-purchased at $56k-rehab cost of $14k-prepaid interest with my hard money loan (no payments now)-$900/mo projected rental income with tenant paying utilities-appraised at $99,900-I have an offer on the table for $89,900 plus $3,000 seller paid closing costs.I learned s lot on this deal and it wasn't a great one, so neither option (keep or sell) is an awesome one, but I'm new to this and trying to start small and learn.

I've had some tenants paying for years with a direct deposit at the bank, although most are using auto-debit through erentpayment.com.

@Bill Henley,Equity is about as illiquid as it gets without an equity-based line of credit with checkbook or debit card access.

@David Sanford See if you can get a merchant account with your local bank and give your tenants the ability to pay with a debit card if they want.  

It seems like a lot of money up front until you consider:Assume the tenant prepaid their last months rent at the old place.

Approx 6 months ago, i obtained a debit card from a family member.

Lou,It will be easier to get a loan from a bank that is in the area / state. it doesn't matter how far the bank is, you will have checks / debit card/ online banking.

Netspend which is a prepaid credit card has a free savings account that is attached to it you can earn 5% interest on paid quarterly (on up to $1000 above that and the interest rate drops).