I just purchased my first investment property that is out of state. I have read that I can claim all of my travel expenses and other things, but I was just wondering how much do people get for a tax return when you own more than one piece of property? I want to get as much as I can so I can purchase more property. Just courious.
Tax advantages are just a small part of the reasons to own property. Generally, you don’t “get money” you just pay less than you normally would…but you have to spend money to do it. The only big advantage to investment property is the depreciation – and at some point that will be re-captured, too (unless you die!)…
Keith