Business loans typically won't let you purchase a property if you read the fine print.

Because, for instance, if I am flipping a couple of properties and I am in the middle of the rehab, but it will take a couple of months for them to get finished and sold, I may be paying $4000 on hard money debt payments per month, and if that debt is included in whether or not I will qualify for a refinance, then I may not qualify.

Including a self-canceling clause in the note ensures the balance is forgiven upon the parent’s death.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

In your case, changing the property from a rental to your primary residence constitutes a change in use.The depreciation recapture will be calculated based on the fair market value of the building at the time of conversion, not including the land value.Since you're tearing down the existing structure, the entire amount of depreciation taken over the past two years will likely be recaptured, as the building's value at conversion will effectively be zero.The recaptured amount will be taxed as ordinary income, up to a maximum rate of 25% for residential rental property (Section 1250 property).

For example: We provide tax preparation and advisory services to people who invest in commercial (including multifamily) real estate, and high w2 earners investing in short-term rentals.

@Blaise Bevilacqua - I agree with the added expense items that others have called out including vacancy, repairs/maintenance, capex, unit turns, and low insurance.

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

Of course - having a w-2 job will never prevent you from setting up an IRA including a self-directed IRA.If yes, how can I fund it?

The Homeowners Insurance will include Builder's Risk.