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I was under the impression that depreciation screwed you over when you went to sell.
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If rented for fewer than 14 days a month you don't have to pay income taxes.
Depreciation doesn't effect value, so don't worry about that.
I was under the impression that depreciation screwed you over when you went to sell.
In 1031's or certain kinds of commercial property, perhaps, depending on your circumstance. There's no depreciation on land, only the structure and furnishings/appliances/etc. On a house, it's not really a consideration that will make or break you, but talk to your CPA. The structure has a depreciation lifespan of 27.5 years or 40 years, and you can write off the pro-rated depreciation as a yearly expense if you want, but dont necessarily have to. Doing this results in short-term tax savings, but you might have to account for it as income when selling the property down the line. Generally speaking, it's not something that is going to change the value proposition of whether buying the property is smart or not. It's a tax vehicle at your disposal. Your accountant will be able to explain better. It's not necessarily a positive or negative. Some large investment firms rely on it for accounting purposes, and some people don't use it at all. It affects Basis, generally speaking.
Here are a few things to read on, but they don't paint the whole picture and they could be misleading. I'm guessing you're in CA from your screen name; and I might further guess that you're talking about Sierra Nevada land. That is right in my wheelhouse; I do real Estate here.
http://www.zillow.com/blog/rental-property-depreciation-144131/
https://www.irs.gov/publications/p527/ch02.html
http://www.investopedia.com/articles/investing/060815/how-rental-property-depreciation-works.asp
http://www.investopedia.com/terms/d/depreciable-property.asp
Defining if this will have a substantial impact on you is something for you and your accountant to decide; the above is just casual discussion. I'm more in the business of finding and operating property for profit, fun, maximized investment, etc. There are certain areas here that are very sound investments, and others that are less certain. If you want my advice on specific areas of where to buy (be it California, Nevada, or otherwise, I have the data and experience on that. Tax stuff is not my area of expertise, but I believe your accountant will say that depreciation is pretty far down on the list of things to consider. There are other tax issues that are significantly more important. My advice is not a substitute for going over things with your accountant, but please feel free to PM me if you would like info on the best cities/counties/neighborhoods/etc to buy into. Just around Tahoe there are Placer, Nevada, El Dorado, Washoe, Douglas, etc counties.. all within a small area. Certain Neighborhoods within these counties are significantly better investments than some others, based on a variety of factors. If you're referring to a different alpine area like Mammoth or Colorado, I have plenty of info on them as well. I'd be happy to help.