All Forum Posts by: Benjamin Branson

I'm buying a property out of state. The current owner has no lease with the current tenants. He has done no background check, no credit check. He manages the property himself and collects rent in person. The tenants the owner claims is "Month to Month." How do I protect myself making an offer on this house so that I do not buy an eviction and not know it? Is there a way I can make an offer contingent that the current tenants pass "minimum qualification standards" and sign a lease with me? Has anyone encountered this before?

I am moving due to military orders. I am going to turn my primary residence that I live in right now into a rental. I bought the house under my name using a VA loan. Should I place the house in an LLC when I move or keep it under my name? Also I have a bank account that I had for other expenses and changed the name of the bank account to the address of my home. The bank account is in my name. My plan is to only use this bank account now for expenses related to the renting of my property. Would this work well for tax and business tracking purposes or should I set up a brand new account.

Tchaka Owen- Thank you big help

Wondering how to negotiate this problem. I am going to bring it up to the owner to see if he got permits for the addition he got. How hard is it to get permits after the construction was already done? Worst case scenario? Best case scenario? Any negotiation tips?

-I plan to start house hacking my 3/2 house when I get back from Deployment. My house is on a VA loan and I plan on renting out 2 of the bedrooms to completely cover my mortgage and to help save money to invest in real estate.

-I was wondering "How" do I take advantage of Rental Property investing tax advantages on my primary residence? Can I write off certain expenses like "Dinner eaten with tenants to maintain happy tenanat relationships" What all expenses could be written off for house improvements or maintenance? Also could deprecation be written off like it is with regular rental properties? Could I place the house in an LLC and then pay myself rent with the other tenants? Would this be better or worse than the tax advantages given to primary residences?