All Forum Posts by: Craig Janet

The bed was fragile? LOL! That means that it was a piece of junk.

I would not have any further contact with the tenant. You offered multiple reasonable solutions. I'm 100% positive they will not hire a lawyer. Don't offer any cash or discounted rent. If they try to withhold rent move to evict immediately.  

I''m a HVAC guy and the 90% of the time a frozen unit is because of lack of air flow (dirty filter, bad blower motor, restricted ducts) or lack of freon. The run time doesn't matter. A properly set up system can run 24/7 and not freeze up. 

We have similar weather here in south Louisiana and the rule of thumb is 1 ton per 500sqft. So you are undersized. 

According to your worksheet, the best return you can get is 5.7%. Tbills are paying 5.6% this is the world we live in now. Its crazy.

Be very careful with a home within a flood zone. There is a lot of legislation going on right now that will affect future rates. Budget for increases because they are coming. 

This guy did you a favor, his rudeness saved you 15K. This was most likely a scam.

 I'm not sure I'm following what your describing. Outdoor units are supposed to have a disconnect (sometimes a breaker) outdoors near the the unit. The outdoor disconnect/breaker should be connected to another breaker at the main panel (where ever yours is located.)

Can you be specific when you say its hooked up directly to the meter? Do you mean its hooked up to the main breaker panel. 

How old is the HVAC. A worn out compressor can draw a lot of power and trip the breaker. 

Did they bury the Romex. If not you should be able to visibly see any breaks in the wire. Although not up to code, exposed romex will last decades if its not physically damaged by rodents etc.  

Go to the home to do some maintenance. If squatters are there then probably most of the electrical breakers are bad. I would remove them and order some replacements and schedule an electrician to replace them. You probably also have a water leak from the meter, so to prevent any further damage you should probably cap off the water supply until it can be restored properly. Invite a bunch of friends to the property to bbq and do some landscaping. 

Just my opinion. First off all I wouldn't provide washer and dryers at all but I realize some landlords do. If you provide a washer get the cheapest simplest model. Samsung appliances are over engineered with too many electronic components and accessories that are difficult and expensive to repair. You have to keep things simple with renters. I would also go on facebook marketplace and get a cheap used one to keep as a spare that your handyman could swap out quickly. 

As others have mentioned, if you're doing a major reno you won't be able to deduct all of those expenses in the current year. They will have to be depreciated over the life of the improvements as defined by the IRS. 

There are grey areas on what is considered a repair or improvement. But if it's a major reno project it will mostly likely have to be depreciated over many years.