Quote Quoting TaxFrk80
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I did get both homes for pretty low price, so my depreciation on the home and appliances is not super high,
That's good, because you have to recapture the depreciation when you sell the property. If you take 20 year straight line like I did the bite won't be too painful.

Quote Quoting TaxFrk80
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I don't mind doing my taxes, however, when things change, some of the Publications' terminology stumps me and I feel I'm spinning my wheels trying to find the answer that actually suits my given situation.
The first year I had a rental I paid an accountant to do my taxes. After that I just used the same format and studied the instructions year after year and it became second nature.

Ironically, the first year I had a rental I got audited. I had kept meticulous records and the audit didn't change a dime.

Now that you have the financial aspects in tow, here's hoping you are blessed with good tenants for as long as you own the properties.

But just to be prepared, locate your state's landlord tenant statutes, eviction statutes, and small claims court guides and keep them handy.