Hi all, my parents have 2 primary residences, and they are looking to sell one of them. I was curious if anyone had insights on my scenario:Parents are living apart, yet still file federal taxes as 'married', but file...

Our average online rating is 3.5/5, which is 60% higher than the 2.2 star average of traditional property managers.Sometimes we need to make a tough decision in favor of one side of the landlord-renter transaction and at a negative impact to the other side (i.e. deducting security deposits).

Real estate investing can be a great idea for several reasons:Potential for Appreciation: Over time, properties often increase in value, allowing investors to build wealth through appreciation.Passive Income: Rental properties can provide a steady stream of passive income, helping to cover expenses and generate cash flow.Tax Benefits: Real estate investors may benefit from various tax deductions, such as mortgage interest, property taxes, and depreciation.Inflation Hedge: Real estate tends to keep pace with or outpace inflation, making it a good hedge against rising costs.Leverage Opportunities: Investors can use financing to purchase properties, allowing them to control larger assets with less capital upfront.Portfolio Diversification: Real estate adds diversification to an investment portfolio, potentially reducing overall risk.Tangible Asset: Unlike stocks or bonds, real estate is a physical asset that you can see and manage, providing a sense of security.Control Over Investment: Investors can influence property value and income through renovations, management decisions, and property improvements.Building Equity: As you pay down a mortgage, you build equity in the property, which can be accessed later through refinancing or selling.Community Impact: Investing in real estate can contribute to community development and improvement, positively impacting neighborhoods.These factors make real estate investing an appealing option for many people looking to grow their wealth and secure their financial future.It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Once the study is complete, working with a real estate tax accountant will help you figure out the best way to use that information and ensure you’re maximizing your deductions in a way that fits your overall situation. 

In my state by not providing the accounting of deductions from the security deposit within 30 days after he left you could be liable to them for 3x the deposit meaning that if their deposit is $1k, now you owe them $3k for your mishandling of the deposit when the male left.

I was wondering, are any of those travel expenses tax deductible?

Absent that, the big differences will be which forms you report the income, your ability to deduct business expenses against the income, and applicability of self-employment taxes. 

Does anyone have strong views on whether on rental properties ALL the interest from a cash-out refinance can be tax deductible (even if the cash is invested to buy or fix up another property), orOnly up to the original loan amount, orSomething else.Currently assuming 1) but not at all certain...

(Doing this correctly, you’ll be able to get a deep tax deduction) 

Purchasing allows you to save on future rental costs and depreciate the asset or use Section 179 for a full deduction.