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post #9 of Old 08-08-2010
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Originally Posted by night0wl View Post
Watch out for property taxes...
And maintenance and capital repair/replacement assessments! Sometimes these are quite sizable. Ensure you read the CC&R's carefully and that you do understand what you are reading.

If rentals are permitted, in theory one could buy an overlarge slip that might be needed at a future time and then lease it and use the lease proceeds to cover the monthly carrying costs of the larger slip and some of the costs of renting a smaller slip. Since the "rental" would be a business, you would be able to deduct the operating expenses (i.e. maintnenance and capital assessments), taxes; and, interest on any financing you might use and come out roughly even or even slightly ahead.


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