You have to pay it if you have an amortizing mortgage loan, and it does reduce your cash flow, but it is not counted as a deduction when computing your taxable rental income.

If you're reading this topic, you need to run out and buy "Short-Sale Pre-Foreclosure Investing: How to Buy "No-Equity" Properties Directly from the Bank -- at Huge Discounts (Paperback)" Run to your computer anyway to buy it on amazon.com or elsewhere online.

A bunch of things they didnt want to lose because they thought they werent getting evicted....until they did. including a 50 vizeo, 2 ps3s, 50 games, a 27inch hd computer monitor, and a bunch of tools including a manifold gauge, dewalt grinder, pipe wrenches, and random hand tools.

However, he or she will not compute a dollars per sq.ft. based on the price and size, then use that to adjust.

Here's how you compute the tax:Basis = what you paid plus closing costs less depreciation.Deprecation is the amount actually taken or the amount you could have taken, whichever is larger.Net sales proceeds = amount you sold it for less selling costs.Note that the net sales proceeds is not related to any checks you may receive when you sell.Gain = net sales proceeds - basisAmount subject to depreciation recapture tax = lesser of gain or depreciationAmount subject to capital gains tax = gain - (amount subject to deprecation recapture tax)You'll pay the taxes when you file your 2010 taxes, assuming the sale is this year.

I've been in on this, too, and recall folks being tasked with computing exactly how much oil was in every flowline and test station.

If you can't wait have the listing agent do a report justifying there drop in price and do not have them do those computer Generated CMA Reports the MLS generates, but rather them printing out Listing Sheets of closed comparable that show the market time on the properties and the value of the properties.

FYI - that is just the Enhanced Payroll module being offered at the link above; this module requires Quickbooks (Pro or Premier) to be installed on the local computer as well.

Computer Science?

And finally - if you wanted to analyze the deal just for the heck of it and could get one property address, in Oklahoma you could probably find the rest with a morning on the computer.