[gonzy]

I've done taxes for a number of people who rent out their homes in the villages. Those who have a mortgage will nearly always show a loss, those who have no mortgage come closer to breaking even, depreciation almost always put you near the breakeven or slight loss from a tax standpoint. From a cash flow standpoint its not a bad deal especially if you are still working and have a good income. It gets a little more complicated if you use the property more than 14? days yourself as this changes it from a pure rental property to a part time situation limiting the deductions you can take. I would have to look up the exact # of days you can use it before it affects tax situation. Remember you are also responsible for paying sales tax on any rental income.