Mostly cosmetic.My ARV was rather a rough estimate based on comparables of similar homes in the area.My plan was to wholesale it based on the discount I'm getting and the fact that I have no cash to finance a property.

This definition of UBIT taken from IRS publication 598: "... if an exempt organization regularlycarries on a trade or business that is not sub-stantially related to its exempt purpose, exceptthat it provides funds to carry out that purpose,the organization is subject to tax on its incomefrom that unrelated trade or business."

So, even if you bought it at the asking price without trying to barter, and put 10% down, a 15-yr mortgage on the remaining 38,250 at 8% (a bad rate as I understand; I am purposefully trying to assess this as a 'worst case scenario' to make sure it is profitable even if the loan doesn't come out as well as planned)That means payments are 365.54/month + 149.42 taxes + I have no idea how much for insurance.

for liability purposes, i say close in your name and then deed it to an LLC. it will also be easier for you during tax time.

Compare that will 50X the rent, and offer something well under the lower of those two.

It will be interesting to see how Canada responds to this compared to the US, given that they US has put itself in an "awkward" position with having to continue trade with China.

The purpose of buying this land is so that when population expands they will eventually need your land.

They usually have lower cost real estate and the "bad" neighborhoods are usually a cake walk compared to the major city.Bad neighborhood is relative to a specific area though and a lot of stereotyping.

OK, so when I call the ads that are listing homes for sale, it normally says downing the bottom that "this person can not be contacted for other soliciting purposes" or something along those lines.

That being said, do I need to put in my expenses into last year's return even if they don't get deducted, just for the purpose of getting them carried over to this year?