I have also found that banks are not willing to look at the property's itemized deductions but rather the net gain/loss on the tax filing, so in my case i had a lot of deductions and write offs that I had a net loss on the property on paper.

Who is paying the monthly tax, can I get tax deduction if I lease option out the property?

If you buy at an up market, you need to pay extra to buy another home in an up market.My guess is you're saying that you think there is a mini bubble going on right now & you want to rent a couple years in anticipation of another downturn.If you can pull it off, great, but highly speculative plus you will lose all of your home deductions.

Your partner should get 1/2 of the cashflow, expenses, tax deductions, and equity.

It was an unfortunate accident.The subrogation letters says the following;We Paid = $950, Deductible = $1000, Amount = $1950.

If they're repairs, like painting or fixing a broken furnace, they are deductible in the year you make them.

If you qualify as a real estate professional and you pay your own health insurance premiums - are they tax deductible?

They were extremely appreciative and I received a nice tax deduction.

I would not think twice about taking this exemption as long as I did not identify another primary residence by taking the mortgage interest deduction or a PR loan out on it.

That would need to be deducted off of the price.