I would like to know if buying a property for approx 90,000 dollars and living in it for approx a year, then turning it into a rental property would have any tax advantages, and if so what would they be?

Thanks,
KChagnon

KChagnon:

Buying the house as a rental does have some tax advantages as long as your rent the house for at least as much as your mortgage and taxes. You will show a paper loss due to the depreciation claimed on the house.

Moving in first will allow you to get the most favorable mortgage in terms of low (or no) down payment and best interest rates. However, you can get a good deal on a mortgage for the rental property as well. This will keep you from dealing with the bother of having to move twoce in less than two years.