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Investment Property: How Much Can You Write Off on Your Taxes?

Zillow

You can only deduct mortgage interest and repairs you make that restore the property to its original minimally functional condition. You can't deduct capital investments like new buildings, additions or renovations. Capital gains tax. The second tax bill you need to worry about is capital gains tax.

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Tips for Buying and Selling a Home at the Same Time

PennyMac

Flexibility in Moving: Typically, you'll have up to 60 days post-closing for moving, giving you ample time for packing, furnishing or even some renovations. You’ll also need to factor in ongoing costs like property taxes, homeowners insurance, applicable HOA fees and maintenance. turn your home into a rental property)?