All Forum Posts by: Arthur D.

between s18 and s23 are good areas. 

Wilson is good d for me so far. 

Just need to screen your tenants.  

West Easton is ok. As per tenant see my post (felony tenant). There are plenty of tenants but you need to screen them good. 

I have a great tenant since December. Since then she has payed on time and as of now she is payed up till June. She has asked me if I would be willing to accept her friend who's getting out of prison next year as tenant to live with her. She's willing to pay $50 extra a month. She has said I would have to talk to the parole board about letting him stay at the address. Has anyone experience this kind of a situation. (It was a drug conviction. )

I would like to thank you all for the input. I really love the bigger pockets community. You guys been very helpful. 

Arthur. 

I only had  december rent as income.  First (nov) and las months rent. Two months deposit.

The agent took the first monts rent. So, the comunity says the rehab and other cost dont qulify as loses.

So I've been advised to do a regular joint  tax filing.

I also found this ????

Can someone explain 

Watch for returns with an AGI over $150,000 and rental losses were deducted. If the taxpayer is not a real estate professional, the $25,000 offset is usually not available. In the absence of passive income or a disposition, lossesare not deductible.

Yes I only have month rent income. 

First and last plus two month deposit. One of those went to the realestate agent.  I thought I'd be getting more money back then my reg joint filing. 

Thanks. My tax preparer told me that I can't deduct and we should use the deductions on the next years taxes when I get more income from the property. It didn't seem right. Thanks bigger pockets. 

I'm currently concentrating in Easton area. You can pick up descent property for under $100k. In a ok neighborhood.  Just need to screen the tenants carefully.