Ask to see invoices on work done to the property.

We have a property management company in town and could help you through some different recourse steps:- Make sure to look through the management contract you signed to see what recourse actions have been put in there for this specific situation- Make sure to look at any invoices that were input into your owner statements/portal and see if these checks were made out to actual contractors or were made for legitimate expenses.

Can a property improvement under $2500 be written off in the year it occurs, even if the expense happens before a renter is put into the property?In the old tax system, my understanding was that home repair expenses c...

Good luck...Hi @Lee Lockhart, I did not have a traditional contract in place, I did have an invoice from the contractor and he emailed me a target date to get his work done.

I’ll get the same dang house from 4 different people all at different prices, and absolutely silly arv too.

As I am experienced with QuickBooks, let me talk about it:Enter all transactions as you receive them and not when you pay them:- Enter all rent as invoices- Enter all expenses as bills- Enter loans, closing, etc.IT is also called Accrual Basis.

I get that I need to understand how filing my REI taxes work, but dang... $1,000 a year for someone to double check MY uneducated work seems a bit steep to me...

We invoice Friday evening for the work that was completed.

Yes, by all means keep receipts and paid invoices for at least seven years. 

@Michael Dang Was underwriting 2 properties in Victoria.