All Forum Posts by: Stanley Crawford

She should have complained about the stove before signing the lease. Your lease should say AS IS if its not broke don't fix it.  At least not now wait 6 months if she really is a good tenant then consider it.

May I ask where you got the loan from?  Congrats by the way...

Read the first book..4$ on ebay

http://www.jaxmediator.com/

  @Michael PlaKs   Thanks You  Any guess how much I could be looking at to get a knowledgeable CPA to do a 3115 and get this straightened out? I mean are we talking $500 or $3000 or $5000?   I sold 2 propertie last year so I assume I am gonna hear from the IRS soon wanting more money.  Can I just start deperciating everthing next year? 

I would like to blame Turbotax for this mess but I know it my fault.  First let me explain how I got in this mess and hopefully someone has some good advice on getting out of it. I started buying buy and hold rentals in 2011. I bought and rehabbed 8 but I sold 2 in 2017..These are all very cheap propeties with an average basis of $18K after repairs that rent for around $550 each . I knew back in 2012 that my taxes were getting complicated but I didnt know where to get tax help I mean I went to HR Block but the lady there seemed to know less than me about business taxes and was talking about $2000 and up.(about 10 percent of my profits) So I started using Turbotax and I thought everthing was going fairly well. Until a couple of days ago when I watched a podcast and found out that depreciation was actually manadtory ie the IRS will assume you took it even If you did not. Turbotax does not tell you this and I was trying to keep it simple and I never took any. So now for the last 24 hours I have been trying to figure out how to fix it...Some tax gurus say to amend returns others talk about a 3115 but I cant even get close to figuring out how to fill that out. I know I need a CPA and I have an appointment with one but I live out in the sticks and i am not sure he is going to know much about real estate taxes himself....Unfortunatly I have a complicated tax return without the kind of income that makes a 2 or 3K per year CPA make sense. I only make about 50K per year with 20K coming from the rentals..The CPA websites I have seen seem to be geared for investers with a lot more income. 

Can you get a Florida drivers license?

Simple.  Find a judgement proof person and quit claim the deed to them.  There has to be 50k people in this country that would sign ANYTHING for $100. 

I don't supply blinds at all. 

Welcome TJ