Hey Guys… I have an operational question about doing a MLO on an apartment building.
Since the owner still owns the building during the lease term, I understand that he still gets the interest deduction and tax deduction and depreciation.
Does he still get to claim the day-to-day expenses and all that are generated by my management of the building during the term?
Asuming the owner continues to get all of the expenses etc, are there any tax or expense benefits to me during the term while I am operating the building as if it was my own?
Thanks!
Kip