Re: home rental/tax question
off the rent you receive you can deduct all expenses. even ones like driving to look at it and anything related to the investment. you will save much money that way. but you need to have it as your residence for 2 of the last 5 years to have its gain tax exempt. for 250 or 500 thousand.
spend the 100 bucks on a cpa and tell him what you are really trying to do and get an expert opinion on that.
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