Originally posted by: BarneyFife
Originally posted by: KLin
Originally posted by: ViviTheMage
My car costs more, ahhaha
What's going to be worth more 10 years down the road? aHAHAHAhahaAHah
In this economy, don't be so sure that house isn't worth $10k in 10 years.
Then... it'll STILL be worth more than the car.
ahahaaahahahhahaahhha
edit: nice find OP!
Also, regarding someone's comment about your son getting a mortgage vs. renting it from you, etc. If you're thinking about selling this down the road, it might be prudent to talk to a tax accountant to figure out the best way to do this without getting screwed in the long run. But, what some posters may not realize is that since it's a rental property, any tools you purchase to work on the property are tax deductible. (Rent is income though.) You can write off the mileage whenever you go to the house to check on the house's condition (50-some cents per mile?) etc. But, you'll also have to keep in mind what you'd pay tax on when you resell the house.