The value of the property excluding the land allocation can be depreciated.

As fund managers, it's important to have a historical perspective when it comes to investment strategies and where we allocate our money.

These include reporting rental income, allocating expenses between personal and rental use, and navigating new limits on mortgage interest and property tax deductions under the Tax Cuts and Jobs Act of 2017.In places like Hawaii, STRs are subject to additional taxes, emphasizing the importance of understanding the local tax landscape.

To know the bottom line of each property - if you are only flipping properties, you will have expenses not allocated to a specific property.

@Logan Allec nailed it with the allocating the expenses between personal and rental.

If he also lives on the ranch then a certain % of that property could be allocated as his primary residence. 

So Mike has $120/month allocated.  

Hi Mike, I believe you could purchase a property on which you reside and also have an investment property, but you would have to do a reasonable allocation between the two and two separate sets of accounting.

So I think it’s about allocating some to stocks some to real estate some to whatever other businesses you want to invest in.

Lets look at some rough numbers.If you bought for 400k, and we allocate 25k to land.