It's in very good condition (very livable) except, and here's where things just get difficult.

No major injuries but both cars totaled. 3rd party learns who actually owns car, threatens to sue.

Then can i claim1) property depreciation (27.5 total life) per year2) property tax deduction if first home property tax is 9000 and this second home taxes are close to 6000.

If you are in town at some point and want to grab coffee I’ll be happy to share the good and bad about life as a full time agent.

The stat that is missing from the story of this tear down is what discount did this owner get on the property because of the condition it was in relative to a newly built home in the same neighborhood.

Let's also say for instance her delinquent thug of a grandson comes over and visits frequently, with a group of his "friends" and eventually threatens the life of one of your other tenants, leading to many phone calls, police visits and filing reports, etc.

Or your rents are too low, or the condition of the property, or a combination of many factors.

PMI is temporary, fixed interest rate is for the life off the loan....

Life is too short to absorb some jerks negative energy.

Also read/listen to Set for Life from Scott Trench here at BP.