The tax laws on inheritance are so beneficial that he made an emergency addition to his will voiding his do-not-resuscitate demand until 12:00am Jan 1st the following year.

I could use your help with the following two questions - How do I enter depreciation on my taxes if my property was used as a rental, then my personal residence, then rented out again in the 2017 tax year?

@Barry Je since you are just starting in the business you need to follow a few important steps1.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Hello BP community - I'm reaching out with a question following a series of events (some mold related) that has led to 3 of 4 college tenants in my SFR having their parents request release from their lease 3 months early due to perceived air quality concerns.Background (University rental in MN - lease started Jun 17 with 4 college roommate - parents cosigned and pay rent):- In Sep 17 we had a minor roof leak that was corrected immediately (flashing)after notification with only minor paint damage and no sign of mold (from the attic or interior wall). - In Nov 17 tenant's parents (these are college students) call my property manager to report a broken dryer and mold growth in the basement laundry room, a bedroom above the laundry room, and in the bathroom.

You should see the rent going in, the expenses going out, the debt service being made, capital improvements being made and the waterfall to the investor; and follow those numbers from start to finish. 

If you aren't already following @Joe Fairless's Best Ever podcast, I'd recommend that as well for lessons in multis. 

I am in a similar situation; so my advice has no proof to back it, or value really...But, is the gain expected (on property flip/rentals) and probability of that gain 'WORTH' it to risk, over paying off debt that will forever follow you?

I would follow up and request to have a polite conversation.

Do know it's unlikely that you'll be getting any title insurance buying this way, and some liens may follow the auction such as municipal bills (water/sewer/garbage).