Here are 10 tax tips every homeowner should know:1️⃣ Mortgage Interest Deduction: Deduct interest on loans up to $750K!

The interest rate on a HELOC is usually higher than a normal 1st lien mortgage, but I am seeing some cases where HELOCs are in the 6's and 7's (where credit score is high and LTV is 65% or lower), which make them pretty comparable. 

DSCR guidelines vary by lender and working with a mortgage broker or lender that specializes in these mortgages can help get better terms such as a DSCR 1 ratio vs a DSCR 1.2 ratio.

I’d appreciate your insights on a complex insurance setup for my recent property purchase.My Setup:• Property purchased in FL under a Trust• Trust is owned by an LLC in FL• Holding company LLC in WY owns the FL LLCSituation:I acquired the property through a subject-to (sub-to) deal, taking over the seller’s mortgage, and I’m arranging insurance coverage.My attorney suggests I:1.

Plus, how are all these changes going to fit with the existing rules and regs?

We renovate our units each time an existing tenant moves out of a newly purchased property.

In an effort to bring ANY $ in to help cover the mortgage ($4600 including taxes and insurance), I put together an AirBnB site for the property and set it live, with zero expectation.

Once approved they will put the foreclosure on hold for a bit - 4 months minimum to be exact which will give you plenty of time to find a buyer (the existing one, or a new one), and get the sale closed.

@Rochelle GerberHere are some of the downsides of putting real estate into an IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

BUT, refinance/heloc/2nd mortgage appraisals do not have a contract price to help target the value you are seeking.