All Forum Posts by: Luke Stone

It is my understanding based on ITC Section 48, rental property owners can now take advantage of tax rebates to install updates. Additionally some of the costs such as updating the electrical panel and trimming trees can be included in the cost under site preparation expenses.

My question is how to what extent is site preparation allowed to be included? I started looking into adding solar to a rental duplex and found out that in addition to a new electrical panels, the utility service equipment also needs to be updated. This includes new electrical meters, new utility lines from the electrical pole and a new electrical pole behind one unit to conform to current codes. Are these additional expenses to update the utility delivery to our property able to be included in the expense for tax rebate purposes?

Thank you both! A little excited, think I stumbled upon a pretty good deal here.

Hi all,

I am looking at a property in the City of Chicago, that I am pretty sure was a five unit building and has been converted to three large units.

What is the most reliable source for verifying the number of legal units for a property in Chicago? I am aware of the Chicago Building Codes Violation website shows the number of dwelling units, but does anybody know if the information on their website is accurate? Do you have to dig further and go downtown to confirm the findings on the building codes website?

Thanks

Thank you, that's very helpful

The bank has approved it, but the title underwriter won't provide title insurance because of homestead laws. 

@Gregg Scott what title company did you use? 

I'm trying to find out if there are any out of state investors, investing in Texas rental houses who have completed a cash out refinance? My title company is saying that I have to have claimed a homestead exemption on a property in Texas, in order to do a cash out refinance of my rental house. This essentially means that out of state investors cannot do cash out mortgages on Texas properties, so just seeing if there any out of state investors who have completed a cash out refinance of a property in Texas.

I'm trying to find out if there are any out of state investors, investing in Texas rental houses who have completed a cash out refinance? My title company is saying that I have to have claimed a homestead exemption on a property in Texas, in order to do a cash out refinance of my rental house. This essentially means that out of state investors cannot do cash out mortgages on Texas properties, so just seeing if there any out of state investors who have completed a cash out refinance of a property in Texas.

Looks like my initial instinct of pine was correct. Thank you all! 

This is the same flooring in a different room but has been finished.

Hello,

Can anybody help me identify this type of flooring. I initially thought it was pine, but then somebody told me most of the houses in the area were constructed with hickory so now I'm not sure.

Any help would be greatly appreciated.