I'm a contractor by trade, and I plan on having palaces in comparison to the area I'm in. So I plan on having the best tenants due to the lowest utilities, and the best appliances. All issues found will always be addressed with speed and the highest skill.

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John HAUL AWAY, OR CRUSHED CARS!!! HELP ME keep the cars out of the crusher! A/C Thread
"as I ride with my a/c on... I have fond memories of sweaty oily saturdays and spewing R12 into the air. THANKS for all you do!

My drivers:
1987 190D 2.5Turbo
1987 190D 2.5Turbo
1987 190D 2.5-5SPEED!!!

1987 300TD
1987 300TD
1994GMC 2500 6.5Turbo truck... I had to put the ladder somewhere!

I'd say its ok to rent to friends or family but don't take any shortcuts on the paperwork. Make it a good sound business transaction and don't hesitate to evict if the other party goes south on their responsibilities.

I have rented to my children....three of them, with no problems. I have sold cars to siblings with mixed results.

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.

When you do your taxes, be sure to account for depreciation. While a simple concept, its tax ramifications are complex. But they benefit the landlord and are worth learning about.

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1968 220D, w115, /8, OM615, Automatic transmission.
My 1987 300TD wagon was sold and my 2003 W210 E320 wagon was totaled (sheds tear).

Unless you're at or under-market, it won't matter about that stuff. Tenants are a wild card. Are your rental properties paid for?

?? Uh.......Youmust'vemissed:

For me, there's not enough of a financial return to ever have the desire to own any. I grew up in a family where my folks made their fortune in real estate building and rentals. So, I had a good perspective on rentals.

...and anyone else who's a landlord...or tenant.

Repair Regulation Relief: What Does It Really Mean? (Not As Much As You Think) - Forbes


..............Let’s dig a bit deeper into this “relief” with a little Q&A.

Q: Slow down there, Tony. What are these “repair regulations” you speak of?

A: Effective January 1, 2014 (though taxpayers could generally elect to apply the rules for periods beginning after January 1, 2012), the IRS issued final regulations under Section 1.263(a)-1, -2, and -3 that completely revamp the way a taxpayer must evaluate certain expenditures in order to determine whether the costs represent immediately deductible repair expenses or capital improvements that must be depreciated over time. In addition, regulations issued at Section 1.162-3 provide new guidance on when a taxpayer may deduct costs incurred to acquire “materials and supplies.”

Q: Back up…before we get to the repair stuff, what do you mean there are rules about when a taxpayer can deduct materials and supplies? I’ve always just taken the line item off my client’s general ledger that reads “materials and supplies” and dropped that into my tax return?

A: You and everybody else. But the reality is, there are different types of materials and supplies, and it is the nature of the item that drives when it may be deducted under the final regulations. In the first category, we have “incidental materials and supplies;” those items with a cost of less than $200 that are so small and insignificant, it is impossible to trace when they are consumed by the business. These expenses may be deducted immediately upon purchase.............