All Forum Posts by: Michael Bertsch

I like the condensing tankless heaters. You can vent horizontally out the wall. Depending on BTU of the unit. You will probably have to increase the 1/2" gas line to 3/4". There is a gas sizing chart you can refer to. After instillation they are really low maintenance and tenants love them. Endless hot water and they last 20+ years if you flush them with vinegar once a year.

You have to use the original purchase price. It would be nice if you could use the new cash out amount. Check out this book... Every Landlords Tax Deduction Guide. That book is very helpful.

Chase Quickpay works well for me and it's free. Tenant can have a different bank.

I also prefer the HELOC due to the flexibility. You can also deduct the interest on your taxes.

I'm getting prime +1 point and deducting every bit of it on my tax return.

We are currently experiencing some of the hottest months of the year. The units are working overtime. Some things you can do to reduce the workload of the units. 1) make sure there is enough insulation in the attic. If not, have insulation contractor spray several inches of cellulose. 2) be sure the duct work is not leaking air. Usually you can tell if the attic is a little cooler than normal. 3) make sure attic is ventilated properly. Whirly birds spinning, mechanical vent functioning, soffit vents not obstructed with insulation. 4) have ceiling fans spinning to help keep house cool. 5) make sure air filters are replaced. Good luck. I hope y'all can get it figured out.

You can deduct all of it this year using the de minimis safe harbor but each item has to be under $2500. If you went over on your flooring, it has to be depreciated. It will be an improvement. If you decide to use that safe harbor, you must adopt that accounting method and use it every year. I'm not a CPA so please consult with one.

Brandon Hall , I did a little more research and you can not carry any of the deduction to future years if you are using the simplified method $5 per square foot.

Sounds terrible! It's turns into a job and you are a slave to reviews. Lol I'm too lazy for all that. Also, when you do short term rentals like this, it is considered commercial property and the IRS makes you depreciate it over 39 years.

Brandon Hall , I appreciate you confirming that for me!