Rest assured; the process is designed to be straightforward. 

But remember this is not straight forward as the basis of the new property is derived from the adjusted basis of the relinquished property plus any amount you paid.

Ironically most investors don't slow down to ask themselves that simple question but will prepare a multi tab excel spreadsheet justifying the reason behind purchasing the low barrier home that lacks fundamentals because it meets the 1% rule or is a good BRRRR candidate because that's what they are taught.

I ran the numbers on some properties and they meet well above the 1% rule, but that sort of worries me...

In the listing, the house is a 3 bd / 2 ba so would we count the area we live in as another bedroom/ living space or would I’d using the bedroom rule for taxes, just say we rent out all the rooms, writing off 100% ?

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

The duty here would be created by virtue of any agreements they entered into, rules posted to follow, or by virtue of instructions given to them to operate the washing machine.

As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.

If they say they moved early, you go and it’s vacant, if they haven’t turned in key or notified you they’re all out, you may have to follow rules for abandonment, like posting notice.

Under the 1986 Act, the Passive Activity Loss Rules were introduced.