All Forum Posts by: John A.

Tevis Verrett,

Thanks! I thought so. But, since I'm not buying the property, I wanted to be sure.

I do plan on keeping a copy of the contract and the receipts for the inspection so that I'm ready when the auditor comes knocking.

John

I couldn't find an answer to my question through several searches, so here goes.

Background: I own a SFR that is rented out. I do my own property management for this house. I am currently trying to buy another SFR to rent out.

Situation: I had a contract with a seller on a SFR. The inspection showed problems with the roof. The seller refused to repair the roof. I elected to cancel the contract.

Question: Can I claim the costs of the inspection (I paid the inspection cost) as a business expense?

I think the answer is Yes. But, I haven't found anyone else with a similar experience/situation. I know you can't give "official" legal/tax advice. But what's your opinion? Has anyone else dealt with this?

Thanks in advance! This is a great place to learn the ropes.

John

If your rental is near an Army base, I'd recommend Army Housing Referral Network (www.ahrn.com). It's free to list, but I think you need to include a military clause in your lease.

John

From a recently divorced young mother, "I know my credit is bad. But, I'm going to start a home daycare business."

Not in my house.

Ever since getting my first tenant in December, I really look forward to the 1st of every month! It's like a holiday.

I bought my first rental a few months ago as a long term investment. I think that's what I'm sticking with for now. I hope to find another one within the next year. I live in a very small "city."

New member and new investor in Cochise County, AZ. I'm glad I found BP. It's a great resource. I'm hoping to find an REI club in my area.

John