David Woodside
500 hour rule - material participation
15 January 2025 | 12 replies
STRs also avoid automatic classification as passive if rented for seven days or fewer per tenant.To maximize tax benefits, maintain detailed logs of all hours worked on activities like tenant communication, cleaning, maintenance, and marketing.
James Petry
fire places
21 December 2024 | 6 replies
Put language in your lease about use of the screen for all fires.I always made it the tenant's responsibility to have the chimney cleaned at least once per year for the built in fireplaces and twice per year for the store bought types as they have smaller chimney piping.
Ryan S.
Advice on Specific Performance for Breach of Real Estate Contract
15 January 2025 | 37 replies
Although certain defenses do exist including, insofar as is relevant here, unreasonable hardship, " 'the court's discretion to grant or deny specific performance of a contract for the sale of realty is not unlimited; unless the court finds that granting a decree of specific performance would be a drastic or harsh remedy, or work injustice, the court must direct specific performance' " (id., quoting 91 NY Jur 2d, Real Property Sales and Exchanges § 204).
Aaron Provencal
Note investment that generated $100k in 2.5 years!!!
26 December 2024 | 2 replies
We could have saved some money starting to clean up the property if we had only checked in with the neighbors first.
Gregory Banks
Basement crack repair estimates - who to trust?
1 January 2025 | 11 replies
He recommended we do some work to move the outflow from nearby downspouts further away and then clean/reseal the interior wall.
Annie Anson
How to meet material participation hours for out of state investors
9 January 2025 | 20 replies
I’ve helped several clients in similar situations find their first vacation properties here in Florida, and the Panhandle is fantastic for beginners because of its year-round tourism and robust support networks (property managers, cleaning services, etc.).
Alex Collins
How to privately purchase a property from a buyer with a mortgage balance
29 December 2024 | 8 replies
You would expect a clean title at close so if there is some issue, then either it would be resolved by the seller or the deal would fall through.
Mitch M.
What happens to a solar lease in California AFTER Foreclosure?
26 December 2024 | 2 replies
It's a lease, not one of those clean energy assessment lien crap things.
Sean Barnebey
Exploring a Seller-Financed Motel/RV Park Investment Opportunity – Advice Needed!
2 January 2025 | 4 replies
Additionally, consider operational costs like cleaning, staffing, and marketing, as they can quickly add up.For management, outsourcing to a professional property manager or leveraging tech platforms for bookings and operations could streamline things, especially if you plan to scale.
Shannon F.
VRBO Damage protection and guest verification
27 December 2024 | 2 replies
The guests have a credit card on file and your policy should allow you to charge for damages or excessive cleaning.