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All Forum Posts by: K Bell

K Bell has started 3 posts and replied 6 times.

Im going to be closing on a 3 unit building with conventional loan. best rate i could get was 7% with points. Should i consider an ARM even if initial rate is similar. My thought is rates are destined to drop in next couple yrs and this ARM would reset without me having to refinance and pay fees again

Post: real estate professional status vs short term rental benefits

K BellPosted
  • Chicago, IL
  • Posts 6
  • Votes 0

Ah neve rmind i see i would have to provide meals or maid service

Post: real estate professional status vs short term rental benefits

K BellPosted
  • Chicago, IL
  • Posts 6
  • Votes 0

if i wait to change when they renew and have them sign 9-12 30 day leases is that legit in the eyes of IRS  for short term status?

Post: real estate professional status vs short term rental benefits

K BellPosted
  • Chicago, IL
  • Posts 6
  • Votes 0

if i cant qualify for Real estate professional status can i do short term rental status if i change my tenants leases to month to month

To what end? To the point I can write off property tax and mortgage interest

With new limits on proposed tax plan, should I rent my home to myself