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3 May 2024 | 30 replies
Provided I am to report the Airbnb activity on Schedule C, can I use the net loss (from painting, decorating, repairs, purchase of washer, dryer, furniture, bedding, linens, towels, etc) for 2019 on this activity against other active income such as W-2 income?
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2 May 2024 | 20 replies
Never been believe it or not lolI guess I'll have to keep 1 unit empty just for us hahahahaZoning is commercial (Duplex qualifies for this).Initially wanted to change back to residential because we could get higher exit dollar due to area if can change to residential (Got comps in the $130,000 all day, take $10,000 - $15,000 off for main road and it's a $115,000 property)We could have done this as this property was residential long time ago but when it comes to the city on anything, I prefer staying away.Incompetent delay after delay so best is to just keep things the way they are.Plus, single parents would love a nice 1 bed, 1 bath duplex in the Washington Local district so it will work well.Thanks mate
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2 May 2024 | 9 replies
Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.
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30 April 2024 | 4 replies
One room will easily fit a king bed which we plan to do.
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30 April 2024 | 27 replies
I'm not just talking matching bed spreads with a wall mural, but more like a castle bed that you can walk into with a slide, for example.
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30 April 2024 | 7 replies
Also adding another bed may appeal to a certain group that needs say 6 beds instead of 5.
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30 April 2024 | 6 replies
I have a client that just closed on a 3 family in Danbury and has an incredible 2 bed 2 full bath for rent.
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27 April 2024 | 2 replies
Doing a renovation now and have the option to do x2 2bed 2 bat units or x3-x4 1 bed 1 bath units.
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30 April 2024 | 22 replies
If you were able to get an uneven multi, with a 1-bed unit and a 3-bed unit, you could live in the 1-bed and still rent rooms in the other and be a bit detached from them.
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30 April 2024 | 1 reply
Current hot water heater is 21 years old in a 2 bed/1bath SFH that is being flipped into a Mid-term rental unit.