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13 January 2025 | 6 replies
This protects against potential claims and liabilities specific to the rental.For tax purposes, maintain clear records of rental-related income and expenses, allowing deductions for insurance, utilities, maintenance, and depreciation proportionate to the rental unit.
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14 January 2025 | 19 replies
I did buy a website which was expensive and produced nothing, still trying to decide what to do with that sunk cost.
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14 January 2025 | 17 replies
Sad that NY isn't taking advantage of expensive hotels to get most of the US traffick to stay on US side and just do a day visit to Canada side and come back.I don't know why small towns change their STR rules and make restrictions.
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4 January 2025 | 11 replies
Yes, you can deduct related expenses including gas, loan interest, insurance, etc. using the actual vehicle expenses method to deduct auto expenses for your rental or other businesses.
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12 January 2025 | 6 replies
Being in Washington State, where properties are expensive and good deals are scarce, I see this as a potential opportunity to jump into my first real estate investment.
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7 January 2025 | 0 replies
Did you have unexpected expenses?
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8 January 2025 | 15 replies
Use STR-specific insurance to protect both parties and automate operations with platforms like Airbnb, TurnoverBnB, and PriceLabs.Taxable income from the STR must be reported, but you can deduct related expenses like cleaning, utilities, and furnishings.
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15 January 2025 | 10 replies
And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes.
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18 January 2025 | 15 replies
And i found launch control but the minimum is $500 a month, but they use cross-referencing data across sources to find the most accurate contact information by using a person's name and address to find their phone number, real address and email by accessing public databases, phone number directories, credit reports, utility bils, public tax records, and social media profiles. this is waaay expensive for me as a beginner. what do you suggest or if anyone has any suggestion I'd greatly appreciate it.??
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6 January 2025 | 13 replies
Find the best property you can afford that also can produce enough income so that your monthly out of pocket expense is equal to or less than what you'd pay in rent.