Owner reserve as a tax deduction?
Hi guys. Just starting reading BP's 'The Book on Tax Strategies for the Savvy Real Estate Investor'. As a real estate investor I've got a question about the owner reserve paid to the property manager when signing a new property. How would one use the reserve as a tax deduction? Sure, if I ended my business with the property manager and had no outstanding balances, I would get that money back. But for the duration of our relationship, that money is sitting in their bank account earning interest for them not me.
Is this possible? Let me know what you guys think. Thanks!
-Seth