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17 October 2024 | 21 replies
There are lots of parts of the country where building codes are not applied at all.
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17 October 2024 | 8 replies
@Joseph BaenaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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16 October 2024 | 4 replies
or show the property to interested tenants and ask them to apply if they meet the criteria?
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17 October 2024 | 19 replies
I have a tenant who would like to apply for one of my Hammond units.
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16 October 2024 | 1 reply
What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.
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18 October 2024 | 7 replies
If the payment bounces, you apply the late fee (if any) and require payment of the full amount in certified funds (cashiers check or money order).
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16 October 2024 | 3 replies
What a good app to keep track of leases with tenants and collected rent money each month and automatically apply late fees if they don't pay on time?
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18 October 2024 | 7 replies
Installation Costs and IncentivesAverage Cost: Residential solar systems typically cost between $15,000 to $25,000 before incentives for a 6kW system (suitable for an average home).Incentives: Illinois offers substantial incentives, including:Federal Tax Credit: A 30% federal tax credit applies to system costs.Illinois Shines Program: Provides Solar Renewable Energy Credits (SRECs) that homeowners can sell for additional income.Net Metering: You’ll receive credits for any excess energy your system produces, reducing your utility bill.2.
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16 October 2024 | 7 replies
They would need to consult with their tax advisors.Yes bonus depreciation may apply.
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16 October 2024 | 4 replies
@Jamie Parker Same rule applies.