One of my goals is to secure my retirement, I'm looking long-term.

The $1500 operating expenses are things like taxes, insurance, management (even if you do it yourself), maintenance, advertising, office expenses, utilities (even if only during vacancies), legal fees, evictions, damage done by tenants in excess of the security deposit, etc, etc, etc.

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Some of his other legacies include the Social Security system and the National Labor Relations Board (NLRB).

I may get hammered by other landlords but good tenants are hard to find here in Fort Wayne.I have often offered the last week or two of the month rent free if the tenant takes the utilities.Of course, I have collected security deposit and first month's rent.I see this as a win-win for me.

No more welfare, unemployment, minimum wage, social security or medicare (for people who are under 50 now), medicaid, Section 8, EPA, department of education, department of energy, OSHA, etc.

.- Now, even if you could get a commercial loan or a business LOC, without the company having a credit history, you'll have to personally secure that credit line.

Rental properties get deductions for any actual expenses, like taxes, insurance, maintenance, property management, legal fees, tenant damage over the security deposits, etc., etc.

If you use TurboTax, the software will do that calculation for you.I suggest that appliances you installed in the rental unit be depreciated individually and not lumped into a group.

I didnt realize that Realtors referred buyers (who they knew couldnt afford it) to brokers that had appraisers & banks with these underwriter's (who checked for a pulse) and the loans were put into securities.