I agree with the two posts in reply to your question, but they did not answer your question.  Can a corporation own a house? Yes.  Is that a wise idea?  Yes, no and maybe.  Their feeling most likely is it's cheaper than paying hotel or other fees.  We do see this with certain businesses that need overnight housing for traveling staff or consultants.  Does it create other tax issues like taxable fringe benefits, etc.?  Most likely yes.  But to answer your question - it could be classified as an Other Asset (long-term asset) and not put on the Fixed Asset schedules.  There will be others who disagree with this and state if it's used in the business it must be depreciated.  They have justification in that answer too.  We all would need to know more about the situation so further research could be done.