Repairs like this are usually capital expenditures, you write if off in the year purchased and don't depreciate it over time.

If they are going to "help" you, everything should be put in writing and signed, just like a purchase contract.

Tenant is scamming you, but if the lawyer can write something that says you are not admitting any liability and this is a one time thing, perhaps. 

Even if not, the writing is on the wall for more regulations for everyone, if they approve these.https://www.coasttv.com/news/ocean-city-council-to-discuss-r...https://www.oceancitytoday.com/news/ocean_city/ocean-city-co...

Hi BP Community, I am writing this post because I feel like I have been stuck in expanding my current portfolio.

Maybe sit down and write out a plan with your future real estate investment goals and then plan from there.

If my AGI is over the $150k (not including husband's income) do we not qualify for tax write-offs/deductions?

@Marcus WelsonTalk to your cpa but I am 99% sure you cannot write off that debt - as even though it’s assigned to you - you did not pay for itFor example I cannot buy a $500,000 mortgage that was lost to a tax lien for $10 and then write off $499,990 otherwise I know a lot of people who wouldn’t pay any taxesI could write off the $10 which is what I paid for it

NREIG (a BP advertiser), is only writing new policies in certain parishes.

I know that most people say to have everything fixed before the closing date, but if it is in writing and signed prior to closing, is it that big of a deal?