I don't understand this topic very well so looking for a connection to a good real estate focused CPA to help with my filing.LLC does not change your taxes, and it's even possible that cost segregation does not.

However, today an application came through that meets our credit score cut off, but this person has NO credit cards, has closed all of the accounts, and has a bankruptcy that was dismissed in 2023 (not quite sure what that means).

I'm intrigued by the concept of this waiver but would love to hear from anyone who has experience with it.

So this doesn’t need to be the next Airbnb.

This is a great community to start into this complex machine!

If you're talking about building an interior wall to create a bedroom, this could work so long as you aren't significantly reducing living space compared to the competitive rentals. 3 bedrooms with a tiny living area could cause problems.

Hey Caitlin, locals refer to this area as "Shacktown".

This is why renting to family or friends is generally a bad idea.

But as you get closer to this no penalty date the "penalty" amount goes down each month.

Once again, consult your legal advisor on this stuff, but that's what most of our more savvy clients do.