Also I wanted to buy a motel because I've been wanting to buy a motel for a while, and I figured this was an excellent opportunity to get my feet wet.

@Lucas Hammer excellent question and now we're getting into the technicalities.As Ray stated above, the expense must be ordinary and necessary for your business in order to deduct it.

Kurt,We currently operate in a climate that will fetch excellent values for those looking to "cash out" in real estate.

Both paid on time and are/were excellent tenants.Since the accident just happened, I have not spoken to the family, I have texted with the room mate though to offer condolences and let him know we are here if he needs anything.My plan is to call my lawyer in the morning and get his advice on how to handle.  

In addition to Nancy's excellent advice, I prepare a move-in packet for new tenants.  

excellent post.

Excellent information.

They don't have to prove it wasn't in excellent shape, you have to prove it was in better shape than it is now.

Anyone with an excellent asset protection attorney in Florida please send a PM. 

you'll find an excellent white paper on HUD's website which details typical assumption or purchase scenarios once a tax credit project enters the extended use period.