Your math is off.You spent $5200 to bring the mtg current.You haven't included any transaction costs ... for 2 transactions.You haven't allocated a single dollar to the displaced homeowner.

If you’re willing to allocate the time and are competitive, Cleveland’s lower end market may be a suitable fit for you.

Never have I felt unsafe.The city allocated millions a few years ago to purchase and tear down a dozen or so older motor inns on ocean blvd that had been left to squander and had become havens for the less than desireable.  

You can also allocate your proceeds in any manner. 

If you live on it, and rent out the room, the repairs will be deductible that is allocated to rented portion of the house.

While passive activity losses (PALs) are allocated to each property, when determining how losses can be applied, the total passive income and losses across your properties are considered as a whole.

Because it can be a headache when you are working with that 100K and need to fix structure/foundation issues (just an example) that are going to eat up the budget and she has that money allocated elsewhere.

However if you’re in a municipality that charges for storm water, how does that get allocated between two metered water accounts?

The allocated loss should be reflected on the K-1 that you each should receive as partners from the partnership tax filing.Not sure precisely what you mean when you say "we will each get to have $2,500 that we won't have to pay taxes on?"

When an investment is made, you need to clearly document the relative proportions of Roth and Tax-Deferred funds applied, and all future income and expenses need to be allocated on that same basis.