As for taxes, it maybe a tax write off. I am a CPA and also in flight school to get out of CPA hell. But the IRS looks as job seeking as you either have the skill and you are using a search firm, or you want to train for a new job, like learning Linux if you already know DOS. My suggestion is buy the twin for a school as a lease buy back, you will have to set up a business with the plane. This will help with lowering your cost. But the problem with the lease buy back is you may not have 100% access to you plane. But since twins are not as rented as much you should be okay. I do the same thing with large commercial real estate. Start up is costly but the long term is you get cash to help the monthly cost and get to keep the building in the end, and sale it. Planes should work the same way, they usually appreciate in value. Plus having the plane in a company will also limit your risk, plus if it an active investment, it will be run at a lose I am almost certian, then you can run that through your other income as a lose and lower your taxable income. Plus with the new federal depreciation laws you can get a large portion of it back in the first two or three years, after which you will have no need for it and sale it. The only problem is the 150K start up. Tough when you do not have 150K. Ask a local CPA, they should be able to help. But be very carefull most CPA's are not up to par with this type of business. Good luck. And I will send you my bill for this advice.
