We bought a property this past year that has 2 houses, each with their own mailing address. We are renting out each of the houses. The property was sold as a single offering and we have just one mortgage associated with it. The county will not allow us to separate the houses, against their land rules. How do we handle this years taxes for this property? Should we treat this as one property with all the associated expenses and rental income, including the mortgage? Or since they have 2 mailing addresses should we divide everything down the middle and consider them separate investments? Thanks...
