Hi everyone,I recently came across a property that I am considering purchasing as a primary home (possible future rental property), and I would greatly appreciate your advice and insights on whether it is a good investment.The property is located on Fleetside Ct, Alexandria VA with access to two metros, Old Town and DC.

As for how to write off old expenses, I am not certain.

Hey Gene, I read some of the replies throughout the thread too so I think I have some context.You initially said that you just want RE exposure but it seems you also want to have something that's operating at cash flow break even or better.

Both to maximize profits (two rents) and incase we need to use the property to care for aging parents in the future. 

It's calculated by dividing the NOI by the property value.While cap rates provide a quick valuation metric, they don't account for future income streams.

In harris county there is plenty of activity going on so im sure you're bound to find some RE investor focused clients or activity that you can jump start your network with.We're investor centric in our firm as well and have been since day 1.

When you depreciate that portion of the asset, you reduce your basis, and ultimately increase your future tax liability in exchange for the write off in the current year.1) What is your short/long term plan with the property? 

Curious what others would do RE: ride them out as tenant or remove, mitigate, then find new tenant.  

Separately, if your company is interested in considering as a whole, you can also obtain financing against your GC Fee Contracts outstanding, via an advance against the future cashflows owed to your business.

It's a simple, cheap way to do effectively the same thing without going through re-zoning process (if you even can at all)