Do you have an idea of the total tax credits?

**Overpromising and Underdelivering:** In my experience, some marketers employed questionable tactics, such as making exaggerated claims and using high-pressure scarcity pitches.

It might help you avoid penalties if the IRS goes after you later.You can claim the labor expenses even without 1099s, but you will technically be in non-compliance.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

My question is this, can I deduct my passive losses that occurred in 2017 on my 2017 taxes or does it get rolled over to 2018 because my income is too high?

Any taxes or other issues that I may run into down the line?

If the rate is reasonable then it may make sense to try to save fast to get to the 3.5% down payment on a double or triple - househacking may allow you to increase your savings rate and pay down that loan even faster.As for estimating costs, closing in NY factor at least 1% of the mortgage amount for tax, plus $1500-2000 for lawyer, title and fees, then the amount required by the bank for escrow will depend on the actual property taxes and insurance.

I understand this is my responsibility and I filed an insurance claim and the garage is currently being rebuilt as the entire thing was destroyed.

There is much confusion about the 4% and 6% in property taxes.Non owner occupied property is taxed at 6% of the value to get the taxable value.This does NOT mean your actual property tax is 6% of the purchase price for rental property,In reality property taxes are about 2% of the purchase price for rental properties and about 1% of the purchase price for owner occupied properties.Google Greenville County Property Tax estimator and play with it and get a sense of how it works.3.

Quote from @Jay Hinrichs: I invested in a winery/wedding venue at the end of 2023 because I needed a quick tax strategy and couldn't find a property fast enough.