Looking for peoples opinions if the quoted costs are fair to take off the security deposit.TYIA You are absolutely within your rights to deduct all that from the security deposit.

Note that legal and transfer costs are not deductible but can be added to your cost basis.

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

In some cases interest paid on the HELOC can be tax deductible if the funds are used for home improvements.Best of luck from Fort Worth! 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

This also makes it eligible for bonus depreciation (60% in 2024) or Section 179 deductions if criteria are met.However, if the RV is permanently affixed to the campground site and functions as part of the real estate, it may fall under residential property classification and depreciate over 27.5 years.

Rental income is subject to tax, but it is also possible to deduct many costs related to owning and maintaining rental property, including property management fees, repairs, and mortgage interest payments.Additionally, for those investors holding properties in Germany for the long-term, the country's capital gains tax law is attractive.

Key points include:Security Deposits: In Indiana, there’s no legal cap on security deposits, but you must return the deposit (minus any valid deductions) within 45 days of the tenant vacating the property.Evictions: Follow the formal process carefully.

they are kidding themselves one needs to punch in 50% to 55% of gross cash flow for expenses then deduct your mortgage payments.. anything less than that will not play out over the years.

Over time, as property values increase, your wealth grows.Tax Benefits: Rental properties offer tax advantages such as depreciation and mortgage interest deductions, which can help reduce your overall tax liability.Scalability: Once you’ve mastered the BRRRR method, it becomes easier to replicate.