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Re: This tenant is a "keeper"
Old 03-19-2005, 04:48 AM   #21
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Re: This tenant is a "keeper"

Also intertwined in this recapture dealeo - a for sale by owner wherein I carried the note - another painful story - getting dragged into messy divorce proceedings to get the money. I outsmarted myself into the arms of the IRS. Still profitable but I thought the IRS got more than their 'fair' share. Some people thrive on real estate - not me -heh,heh.

Still watch 'This Old House' and those kinds of programs however. Nearly thirty years as a desk jockey - doesn't help my handyman skills and it's been commented that ' I couldn't cut a straight line with a left handed skill saw.'
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Re: This tenant is a "keeper"
Old 03-19-2005, 12:12 PM   #22
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Re: This tenant is a "keeper"

Yes, we'll watch the 1250 recapture rules. In an interesting twist, we had very low basis going into the last 2 rental houses, which means the depreciation and related recapture will be pretty small. We'll see if we really get much of a depreciation tax benefit anyway. Certainly a consideration, but not a killer.
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Re: This tenant is a "keeper"
Old 03-20-2005, 11:28 AM   #23
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Re: This tenant is a "keeper"

Quote:
I couldn't cut a straight line with a left handed skill saw.'
A roll of galvanized flashing and some stucco can create a great deal of beauty.

I made our outdoor dog jakes dog house out of old leftover scrap from my wifes house construction. I didnt pre-cut ANY of the wood. I took about 35 minutes to nail all the wood together and then took my reciprocating saw and "evened it out". Coverered all the seams with flashing and stapled a bunch of shingles to it.

Butt ugly after I was done with the saw...a thing of beauty now...
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Re: This tenant is a "keeper"
Old 03-20-2005, 12:14 PM   #24
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Re: This tenant is a "keeper"

Ah ha!

Stucco! Will keep that in mind.
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