Including these items will affect the return, however, a $100k gross spread is great no matter how you slice it and if I could do that here, I would!

ViewItem&item=200900960442As I am about take back my home that has been ruined by my tenant that i am currently evicting, and it will sit vacant with tools and materials.Also a thot: Get Mike's bulletproof lease (can be googled) and tell the mom of these larcenous little terds to sign her new month to month lease that she will be responsible for any damage by her hell spawn progeny commit or GET OUT!

The improvements themselves, anything you spend getting it ready to rent, and big capital items have to be depreciated over multiple years.If net rental income is positive, you pay tax on it at your ordinary rate.

The inspector came back with some items that need attention.

I'm coming to the end of my first flip and am on to punch-list items.

In my area, cooking and heating are the only required items.

I created a separate depreciation item for the original personal property which is in year 2 of 5 years of depreciable life.

Katie,My heart really does break for you.You sound like a new landlord that is going to learn a very hard lesson.The tenant doesn't move in until the pay the full security deposit and first months at least.It can't be a check either and the funds have to clear as valid.You are mistaken about the tenant not letting you in.That is your property and in case of an emergency they have to let you in period.You can call the police and you will be allowed in.You can't break immediate quite enjoyment for inspections and other mundane items etc.Did you document in the writing the date and the time the event occurred,actions taken and pictures etc.

Gee, I wonder if I could call sabbath on Sunday if they water heater or some other critical item broke?

Move-out: I did an through walk through (took photos) of the entire property and noted which items had to be repaired or cleaned.