Mehul Rupani
Form 3115 vs Amending for catch up depreciation
25 January 2024 | 3 replies
You probably mean the tax return you filed in 2023, and that was your 2022 tax return.When you file your next return later this year, which will be your 2023 tax return, you will need to also file Form 3115 with corresponding attachments recalculating depreciation for all prior years, including the years when you did and the years when you did not claim depreciation.
Jeremy Porter
Managing Additional Expenses: A Property Manager's Guide
26 January 2024 | 0 replies
Whether it involves email correspondence, written agreements, or meeting minutes, the practice of maintaining comprehensive records is essential for upholding transparency and clarity in any business or organizational setting.Documenting the process through detailed records, including agreements, communications, and any changes or modifications, will help protect both parties in case of any disputes or disagreements that may arise in the future.
Megan Herrington
Home Insurance on my second House Hack
25 January 2024 | 4 replies
Document Property Condition:You may make sure that your insurance coverage corresponds with your current living situation and way of using the property by following these procedures.
Marsha Brannon
Yardi Breeze 1099-MISC box 4 issue
23 January 2024 | 0 replies
The help center provides instructions for mapping GL codes to corresponding boxes but NOT when extracting data via "Owner by management".
Aaron Bard
Need Advice on Screening Tenants!
25 January 2024 | 12 replies
We use a YTD paystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make sure they’ll always be able to pay the rent on time.
Mario F.
Illegal to convert rent control unit into vacation rental/airbnb?
15 October 2016 | 8 replies
For each day you advertise but are not registered with the city you pay something like $200 per day.The reading I've done around removing RSO tenants is that it can be done under a few limited circumstances and there is a corresponding fee to be paid that depends on age, family size??
Mas Yoshida
Growth Strategy and Self Directed IRA Rules
16 September 2016 | 14 replies
The Roth portion of another qualified employer plan like a 401k, 403n, etc can be rolled over into the Roth portion of a Solo 401k.The solo 401k does provide the ability to do an in-plan conversion of tax-deferred funds to Roth status (with the corresponding tax implications), and allows for generous new Roth contributions up to $18K per year.A Solo 401k is exempted from Unrelated Debt Financed income taxation (UDFI) when using mortgages to acquire real property.
Anand S.
New investor from San Diego
19 September 2016 | 32 replies
This list would contain the zip code and corresponding name of the municipality, and a breakdown of the number of SFRs.
Douglas T.
Jobs in Real Estate
26 September 2016 | 3 replies
You can invest very little money and get the 'basics' by attending an in-school training (not correspondence-course) a course in real estate once you get here in Florida.
Jennifer Acalinas
New to BP, excited and ready to learn!
24 September 2016 | 3 replies
This list would contain the zip code and corresponding name of the municipality, and a breakdown of the number of SFRs.