Jamie Banks
Turning A Primary Home Into A Midterm Rental
17 November 2024 | 6 replies
Who is going to change the air filters in the HVAC system or mow the lawn?
James Boland
Help with advertising in NYC
3 November 2024 | 2 replies
I am currently using Air bnb, Homeaway and recently used Craigslist in NYC. all the best, James
Sa'Mara Roberts
Seeking Advice on Partition Action for Family Property Dispute
8 November 2024 | 4 replies
Here in New York, it's kind of up in the air.
Melanie Baldridge
"Does the IRS require site visits for cost segregation studies?"
13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.
Matthew M.
Any tips for water damaged homes?
6 November 2024 | 2 replies
In our property, the house was open to the air in the damp environment of coastal Florida, no heat or A/C at the house.
Yonatan Girma
Investment Properties Real Estate Rental units
2 November 2024 | 0 replies
How can I optimize my situation to be at least break even or, even is short term like air bnbs andvacasas reay good?
Vaibhav Bakre
Maintenance repair costs for a 40 years old house
10 November 2024 | 2 replies
The house is in good condition, AC and roof are 5 years old.Generally I keep $2000/year towards maintenance when I buy houses that are 5-15 years old in this price range.
Nandy B.
Mold Remediation Quote -- $11K Inflated or Reasonable?
14 November 2024 | 6 replies
If mold remediation is done by a handyman without air sampling or post-remediation testing, it can lead to issues during the sale.
Melanie Baldridge
It’s not what you make, it’s what you keep!
6 November 2024 | 0 replies
& different parts of the asset can be depreciated on different schedules.To find out the useful lifespan of each component, you do a cost segregation study to analyze all of the parts.The raw land can't be depreciated so you start by giving that a value first.But other items can be depreciated on a quicker timeline.A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.The IRS has a depreciation schedule for each type.Some parts are 5 yrs.
Erich Hatch
Estimating Rehab costs
15 November 2024 | 7 replies
Remember to always budget 10-25% (depending on age/condition) extra as a buffer.