Problem, your sitting on Cash, which will devalue.2. 

I've heard Fully taxed as income and I've heard $0 because you're devaluing your current asset by that amount (Loss) which off sets you sale gain. 

If the HOA is responsible for exterior repairs but doesn't have the reserves to cover those expenses, it's problematic and devalues the property. 

The appraisal outlined perfectly the items that devalued the property and so those are being addressed in the renovations now.

Furthermore, in a time of potential inflation and devaluing of money - I want part of my nest egg in solid bricks (or siding, in this case:).  

Having debt is a great strategy in an inflationary time, as we pay off the debt with future devalued dollars.

To increase this, you either increase the net income or devalue the asset.  

The former means that even if you eventually return the exact amount of your tax savings, you get to use the money in between as an interest-free loan and repay it with the money devalued by inflation.

Things like: having roof, heat, driveway, paint, outlets to hang Christmas lights... things that are taste specific can actually de-value.

We may not know what the future holds for the housing market, but locking in that low monthly payment while holding an appreciating asset and inflation devaluing the dollar, now's a good time to buy!