Yeah... I don't have any idea what the tax codes are there. Here, it would depend on how it's structured. My way of looking at it tho... if there's a chance of some significant price appreciation and the rental aspect is holding it's own... worst case is you pay a percentage tax on the gain. I don't know what that is nominally where he is... but here it would still be well worth doing. Again, not knowing your tax codes.... but if you could use the depreciation to create a loss that can carry forward.... mabey you pay less tax on the capital gain than on the earned income? I dunno... just tossing out ideas.
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