All Forum Posts by: Robin Evans

Tax season! We bought a property in 2022, remodeled and sold it in 2023, over a year after the purchase. We did most of the rehab work ourselves. Will the profit be counted as self- employment income or long-term investment income? Thank you for your input!

Thank you for the input, guys! We also called our county's Metropolitan office and they also confirmed that we can end the lease just we treat other regular tenants, giving notice, etc. Meanwhile, we also need to notify and send a notice to Metropolitan office too. Have a great day!

Hello BP friends we are in Ohio considering remodeling a unit of a four plex and turn it into Airbnb.  We have Section 8 tenant on month to month lease. Can we just end the lease like other regular tenants? Or are we stuck with Section 8 tenants? Did anybody have the experience in Ohio? Any input is appreciated! Thank you!

Following. Also considering letting go a Section 8 tenant here in Ohio. Not sure if that is allowed or what the procedure looks like. 

Hello we just had tenants move out and their standard of cleanness makes me want to laugh. They left the property filthy and trash behind and claimed it was clean! Our cleaner had to spend 10 hours to clean the whole house! And they broke all the blinds and want their security deposit back since it is so clean and landlord don't need to clean it! 

We are drafting an accounting statement of security deposit listing all the deductions. Do you guys also attach receipts of repairs and items to replace when you return the deposit to move-out tenants? And also attach move-out inspection report? They left the key and we did the inspection ourselves. Appreciate any input! Thank you!

Furnishedfinder.com  We found some medium-term tenants on the site. Good luck! 

@Peter Anag We will get a notice if they stop paying the premium because we request to be additional insured. Then we usually reach out to tenants asking them to resume paying. 

Thank you all for the valuable input! That absolutely makes sense! If the one room catches fire, the whole building might be in jeopardy! We will put that in the lease and ask for a certificate for record. You all have a great week! 



 

Hi BP friends we have a small mixed use property and plan to rent out one of the rooms downstairs to a small business owner and use the rest of space for our own business. We still plan to sign a full commercial lease with the tenant although it is a small space. The space does have its own lock and be separate from our space, in the same building though. We will share the same restroom. In our formal commercial lease, it says tenants need to carry general commercial liability insurance with minimum limits of $1 million for personal injury or death per person, not less than $500,000 for property damage  and list us as additional insured. Just wondering if we should reduce the required amount a bit due to the small size of the space? Anybody has similar experience?  Any thoughts are appreciated! Thank you!

@Jim L. David Green's book Long-distance Real Estate Investing would be a great start to get to know the ins and outs of long-distance investing. Good luck!