Water heaters need replacing, bank errors occur, tenants move out, real estate bubbles happen, etc. 

Snowbirds stay for the winter months, so these are annually occurring midterm visitors.  

Well, I do not know ANYTHING specific about the deal in question, the sponsors, or how the subject is organized, BUT as a syndicator/fund manager I will tell you the greatest risk faced by the limited partner/passive investor is NOT interest rate risk; NOT demographics risk; and not TECHNOLOGY risk; it is the risks that occur IF the sponsor’s interests are NOT aligned with the investors interests.

We did get negotiate money from them to help with roof repair, but now know they were not honest on their disclosure.Our inspector missed  code violations, HVAC issues, pipes that had been worked on and issues hidden that had occurred while sellers lived in the house, signs of drainage and water damage inside the house that had been painted over, completely blocked dryer vent...and we are finding more daily.We have had the house looked at by a structural engineer and HVAC techs  that has told us we need thousands (likely tens of thousands) of dollars worth of repairs to make this property able to rent and come up to code for rental.

The way our bookkeeping firm does this is via a manual journal entry dated the last day of the month the transactions actually occurred for your properties via your PM.

All the podcast episode transcripts are posted to the blog, which runs on wordpress and you can use any RSS reader to subscribe to that.

Revocable Living Trust Basis TreatmentIf we were to change the example and instead have X owning the stock shares in the name of their Revocable Living Trust (RLT), the same stepped-up basis adjustment would occur at X’s death.

Now you know why he pays people to write obviously fake reviews from one-time posters which just happen to occur on the same day, in the same writing style with the same buzzwords like "He's a go-giver", and the training is "over-the-top".  

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

Insurance deductible: This can be deducted in the year the claim occurred, as it relates to property repairs.You are correct that depreciation begins when the property is placed into service, so it should start as of December 26th, 2023.This post does not create a CPA-Client relationship.