If i purchase triplex as an investment property in California but later on decide that i want to live in it, can i?
Rules about it and things i need to know if i decide to do this. If I rent then live in it and rent again any rules?
When the units are being rented I need to claim rent as income on my taxes and then i can subtract expenses( HOA, depreciation, etc..) .
So when I move in can I claim 1/3 of the property as my primary residence and have my interest on mortgage tax deductible?
2007-07-27 13:10:19 · 1 answers · asked by Lost I 1 in Business & Finance ➔ Renting & Real Estate
If you own investment property, it is in your best interest to take some courses in real estate investment to help you decide what is in your best interest. To rely on Yahoo!Answers as your guide is not very wise.
The answers to your questions can be found in the search list I have provided.
2007-07-28 15:49:46 · answer #1 · answered by Yarnlady_needsyarn 7 · 0⤊ 0⤋