All Forum Posts by: Art Webb

If you are having a contractor install replacement windows while you and family are staying at the vacation rental can this be counted as a maintenance day ?   Thanks  

Are there any good waterfront condo communities that rent well at Lake Conroe ?  Any Airbnb mgt companies ?  I’ve heard about alligators there has that been a problem.  Assume it takes a bite out of water skiing and paddle boarding .  Thanks !

@Dave Foster. Thanks Dave…..just can’t get away from that Depreciation recapture tax…brrrr.

Hello,  I’m looking to sell a rental property and exchange into another rental property in a future retirement city.  After renting the replacement property for two years live in it as personal residence for 3-5 years and then sell it.  What are my tax obligations upon sale after living in the new rental property ?  With the Section 121 qualified vs nonqualified use provisions does my gain start with the replacement property’s net purchase price going forward or does it reach back to the prior relinquished property cost basis ?  Thank you for all responses !   Art

sorry, trying to remove duplicate post.

@Serge S.  hi,  enjoyed your post. Wanted to ask you a couple Qs about Phoenix real estate market. I’m new on this BP forum.  Can you contact me privately ?   Thanks !  Art

All… I appreciate you valued comments.  Keep them coming.  Are the snowbird folks looking more for condos or SF homes ?   2 or 3 BRs ?   1 floor over 2 levels ?   1st floor entrances vs stairs to a second story apartment ?   Looking for most desired house or condo plans desired by most renters%. Thanks all !!

I’m interested in buying a rental house in Phoenix area and use it myself perhaps May thru October and rent in prime vacation season Nov thru April to tourists or snowbirds from up north that flock to Phoenix in the Spring/Summer.  After a few years convert to full time residence.

Any suggestions on how best to work this ?  Is it better to find six month rentals each year or have a company market it as a Airbnb and take care of the housekeeping needs ?   Any leads on Airbnb management firms in that area ?   Which rents better single house vs condo ?   Thanks all ?   Art

@Albert Wright. I would be interested in your flat fee DST broker and how your purchase went. Contact me here. Thanks !

I getting ready to sell a rental house which has accumulated a significant amount of Net Operating Loss over the past 20 years.  I understand I can use this NOL to reduce my personal taxable income.  Question:  Can I claim the entire amount regardless of how many years it took to accumulate ?  Is there a maximum amount per tax year I can use ?  My tax software shows the full accumulated amount as NOL.

However, in researching I see various articles talking about claiming it back on only 5 yrs of tax returns and onto future tax returns until you have exhausted it all.  Appreciate all responses ! Art