ERD50
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
... It does provide a solid 6-figure income. But I only pay taxes on less than half of that due to depreciation and business expenses. ....
Statements like that always strike me as a little too much of a 'rosey-colored-glasses' view.
If I say that I have X income, but pay less taxes on that due to expenses.... that's not really 'income' then, it is 'revenue'. I can't spend it or save it if it went to expenses. If it was 'income' it would be taxed as income.
We don't pay 'revenue tax', we pay 'income tax'.
And depreciation defers taxes, it doesn't eliminate them. Deferral might be good (many of us with Trad IRA's are questioning that), but it isn't 'not paying taxes'.
If rentals work for you, that's great. I just get a little more skeptical when someone starts painting things as greater than they are.
-ERD50