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21 November 2024 | 2 replies
You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring.
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23 November 2024 | 4 replies
Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.
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22 November 2024 | 12 replies
@Lisa Mallory Did you get a tax accountant?
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21 November 2024 | 2 replies
. - What driving factors should I take into account when l'm looking for an up n' coming hot markets?
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20 November 2024 | 12 replies
Only thing I can think to do is call Vrbo or Airbnb and explain the situation and see if they would allow you to create another account that maybe isn't active to use until the other accounts are shut down?
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20 November 2024 | 9 replies
TIAI personally don't like the receipt scanning apps because I think they are overkill and they only account for half the record keeping you need to do.
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22 November 2024 | 1 reply
Always account for the costs of upcoming capital expenditure items in your purchase price.
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21 November 2024 | 9 replies
For that reason I built a full-functioning cash flow model taking into account hard money, the mortgage refinance and all relevant operating expenses to assess monthly cash flow.
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20 November 2024 | 8 replies
I have been using my bigger pockets account for awhile now but I thought I would reintroduce myself.
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14 November 2024 | 10 replies
I am looking for any type of avenue that would give me first hand experience in any aspect of real estate investing, managing, etc.