It will ofset the income on your taxes.

- if we are all only shareholders of a cooperative, why is each unit's proprietary lease recorded with the county and each unit owner/shareholder pays property taxes for their own respective unit?  

We invested in Florida, were looking into Austin but we did some other researchs and the taxes are really on the high end in Texas !

So I am trying to run numbers on a few larger apt. buildings and the expenses the owners have given me are obviously inflated for tax benefits.  

However, they will calculate a new DTI (debit to income ratio) based on the new monthly payments from your cash out refi or HELOC loan.Some quick pros and cons about Cash out Refi vsHELOCCash out Pros-tax free money-low interest rate-no monthly payments Cash out Cons-closing costs (couple thousand)HELOC Pros-tax free -its a line of credit, hence you can use pay back then use again-usually NO closing costsHeloc Cons-higher interest rate-have to make monthly payments on money borrowedHope this helps,CB

So I'm looking for some advice as I begin this process- should I drop the agent and pursue the tax address I found first? 

Below are some quick tips about cash out refi vs HELOC/LOCCash out Pros-tax free money-low interest rate-fixed monthly payments unless you choose a variable productCash out Cons-closing costs (couple thousand)HELOC/LOC Pros-tax free -its a line of credit, hence you can use pay back then use again-usually NO closing costs on residential Helocs; there will be closing costs on commericial LOCs-commericial LOC is very fast moving as far as getting funding and refinancing  (Makes it easy to rinse and repeat)HELOC/LOC Cons-higher interest rate-variable rates-monthly payments depend on amount borrowedHope this helps,CB

Madison County does come to inspect short term rentals and also a tax(es) of 11.75% applies on rentals less than 90 days. 

Seller has not had to pay taxes in years since it’s currently zoned as AG1.The property has been Pre-Approved Rezoning to Allow for Sub-Dividing and Building 2-4 Homes.There is currently a single family home on the property there now, built in the 1950s, but will have to be torn down.

Seller has not had to pay taxes in years since it’s currently zoned as AG1.The property has been Pre-Approved Rezoning to Allow for Sub-Dividing and Building 2-4 Homes.There is currently a single family home on the property there now, built in the 1950s, but will have to be torn down.