@David BurtonWelcome to Bigger Pockets!

If they pay late now as is, let's say they lose a job or have a temporary loss of income, you're kind of SOL.I would look to build reserves between now and August.

Good morning/evening Everyone,I am located in Columbus Georgia, and I am new to the Bigger Pockets community.

I have been in the books and came accross Bigger Pockets, i would like to dive head first into real estate investing but the un known is a little scary.

However, while anyone who purchased in 2022 should expect a loss, that doesn't mean everyone is going to/ able to  accept one until the house has sat on the market for a while - probably different at your price point - ie more expendable $; able to absorb a loss.

Quote from @Patrick Roberts: Angel oak and A&D mortgage are two of the bigger lenders that I know of who will do 2nd's on investment properties as of a few months ago.

- Loss of historical data (for both IRS audits and for personal portfolio tracking.)You should be able to print the general ledger and Balance sheet / income statement for each period.

Hi,We recently (Aug 2024) bought commercial land of around 2 acres. this was part of bigger commercial lot (around 25 acres) which had AG exemption and so the taxes that they paid was around $20 each year. we received a 'AG ROLLBACK' letter from the appraisal district that starting 2025 tax year, we will be taxed at it market value resulting in additional taxes, interest and possible penalities for 3 prior years.

Don -You've got quite the fan base here on Bigger Pockets all wishing that you have a positive outcome. 

I would imagine the LLC will have its own EIN, but we will still report the gain/loss as pass-through income on our joint tax return.