This means adhering to formalities like keeping detailed records, avoiding perceived co-mingling of personal and business assets, signing documents in a representative capacity, and, of course, refraining from fraudulent activities.

Purchase price: $122,000 Cash invested: $41,000 Single family home.

If it has always been your primary, and you sell right away - full exclusion (up to the limit of $250k single or $500k couple)2.

Demo'd it and build a new 6,200 sq ft single fam. home (modular construction).

How do you find roomates for a house hacking situation, 4 rooms and currently 3 are occupied in san antonio texas

I'm glad you have an umbrella policy for the first 10, but when you own them in your own name, a loss in one property can spill over to the others, and personally.

Hello. I just put my house for rent but I’m not sure where to do background check and what exactly look for when doing them. Can you please share what you use it would be great. Thank you. 

Personally, I'm not a wait on the sidelines type of person, so maybe what I would do does fit everybody. 

Hi all, My relative wants to combine their $500K personal exemption & a 1031 exchange to liquidate their rental properties without paying taxes, but they are worried about missing the180-day time limits for the 1031 exchange, so they want to involve their son-in-law (SIL).

.: I have a main company, that owns a bunch of LLCs, each LLC holds a single real estate asset. 1 of the LLC also acts as a management company for the entire portfolio.Now it creates a problems that with each LLC, I need to file a tax return each year. and so far I am doing them by excel copying numbers from bank statement, which is a nightmare.Quickbook online charges $24 each month in Canada, which really adds up with the number of holding LLCs. and I don't feel like what I require from it justify the cost.