WooHoo

The renters agreed. She is a home maker like me. I kind of anticipated that with five kids. Blended family, divorce situation. Two big dogs, 2 of the kids only stay with them for a portion of the month. He is a remodeling contractor. I told them they could come in early before the contract begins and paint and change out the carpets, but we weren't paying for it. They could do it to their tastes. It was right up his ally if he was a remodeling contractor. I told them with 5 kids and 2 dogs we weren't going to spiff up the house for them.

It all went well. They asked about the short sale and if we would get current on our loan. They didn't want to move into a house and then have it foreclosed on them. I told them I had a check ready to go this week as soon as the contract was signed, to become current. I am giddy with happiness. I am hoping they stay a long time. I even offered them a two year contract at this price to guarantee the rent price. I don't know if they will take me up on the offer. But stability is great for us. The longer they stay the less down time we have to worry about.

We just have to pay the mortgage to August, then they will be paying it. The write offs on our taxes are more than the rent. It will be interesting doing our taxes this year. This is new territory for us. A girl friend with a CPA husband told me the basis starts when we put it on the market to rent which was this week. Even though our first check doesn't arrive until August. The basis is our purchase price plus any remodeling and landscaping done, add $20,000 to $350,000. Depreciation starts now. We get to depreciate the whole amount over 27.5 years. It is a great gig. Especially considering my bad paint job and the bad carpets. The renter husband is a remodeling contractor. I get the work for free. Heaven. Maybe I was raptured. If we get news that we are closing next week on the big house, I'll have to pinch myself.