The other Piggs are doing such a great job with their responses, I needed add any more.
—————–
on another subject…
DWCAP said:
If you want to own a rental great, do it. But dont expect taxpayer subsidies for your buisness, even if that is just a prefered interest rate and lower equity/DP requirments.
Agree 100%+++++!
In addition to this, I would eliminate all mortgage deductions for investment properties (with a possible exemption for multi-family apartments), and eliminate all maintenance and other expense deductions.
And most importantly…I’d eliminate Prop 13 protection for second and investment homes.
Housing is a basic need. As long as there are people who need/want to buy a primary home, the government should not be subsidizing any profits for landlords and specuvestors. If you want to get into the rental “business” you can buy apartment buildings OR perhaps buy SFH rentals that fall under strict rent control and tenants’ rights laws.
