a correction is occurring right now, big losses the past few weeks.

So your insurance company has $6,000 and it takes some of that money and buys "reinsurance" against excessive loss.

This is my understanding regarding taxes and vacation properties:1) If you rent it out all year long: You can claim tax and mortgage interest deductions, rental cost deductions, and rental loss deductions. 2) If you use it as a vacation home for more than 14 days per year and also rent it out more than 14 days per year: You can claim tax and mortgage interest deductions, you can claim rental cost deduction (but not over rental income amount) and you CANNOT claim rental loss deductions. 3) If you use it as a vacation home for more than 14 days per year and also rent it out for only 14 days or less per year: You can claim tax and mortgage interest deductions, you CANNOT claim rental cost deductions BUT that rental income is not taxed, you CANNOT claim rental loss deductions. 4) If you use it ONLY as vacation home and do not rent it out: You can claim tax and mortgage interest deductions (can only be done if this is your only second home...you can't claim this on unlimited second homes), you would have not rental cost deductions to claim and you would have not rental loss deductions to claim. 

When done I print out a detailed Profit & Loss report, and then put those numbers into Turbotax (Home & Business).  

For hazard coverage, many investors only carry actual-cash-value policies which payout a specified amount of cash in the case of a loss in order to protect the total investment.  

If you don't setup correctly, and optimized it in the right fashion then you will just loss money and time.People think just having a website online enough which is 100% false.

Does anyone know if you have a net loss for the year, do you claim your home office deduction that year and carry it forward, or do you "not claim" it, hold on to the info, and claim it when you have a net profit for the year?

IIRC, 5 votes got a shade of gray, and 10 votes got a bluish shade.

Our unit is slightly smaller but location he will trade off.He projects a loss of business of 30% during transfer.

Also because I had a significant loss of income last year.