All Forum Posts by: Pat L.

Jon K
Your patience & self control is an inspiration !!!

He may be confusing it with the "ownership" & "use" test for principal residences.

In Canada the rental amount IS recorded on their return along with the rental address & landlords name...

Using your own words ...
Get out ASAP,,,,

Tell them you only allow kosher pigs :)

I agree with Rob K do the open house thing. Have the applications there ready to go.
In fact a friend of mine in Australia does the open house with wine & cheese.
You could try wings & beer!!!! :)

I would do a lease to own... $1200/month.
Sounds like it's not as appealing as the comps you
mentioned.
I find common driveways & busy roads are a big negative here.

I insist on it & I like it through my broker so I know when its due & if its cancelled.
I have one that I pay the annual $55 because she is older & has a large aging dog. I just raised her rent to cover it.
It saved me a lot of aggravation.

Yeah....
I even structured my log to show the drive to bank/post office etc for business first then to the property routine. But she was adamant in denying 60%.

So the following year I decided to do the LLC paying me a mileage allowance
& that went through OK......so far!!!
The interesting thing was she allowed travel time as RE 'involvement' time :)

However, I quickly realized that the mileage audit was the proverbial 'camel nose under the tent' so it was cat & mouse for the 3 days.
Say nothing more than 'yes', 'no' & 'I don't fully understand the issue at hand'.

That mileage deduction will get you an audit....
Ask me how I know & I had it fully documented & still had most of it denied & we have significantly more properties.