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13 October 2024 | 18 replies
I have a tenant in Arizona, who moved in a month and a half ago.they keep complaining that the master bedroom is too hot.The whole house is ok but the master bedroom is hot.I offered them a portable ac, they refused took it but did not install.I offered to have a handyman come install it, they said they can do it themselves.I offered the ac guy to come check on the AC and asked them to call the guy, because he likes to schedule with the tenant directly, but they have not called himI asked if they waned me to schedule with the AC guy,- silence.They complain but wont let me schedule for them.I understand that the tenants are just complainers, but I want to cover myself legally.So in case, if they decide to take me to court, I would not be liable.What is the best way to deal with things like that?
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16 October 2024 | 10 replies
In fact I'd do this with the first 2-3 flips and schedule out your budget for the next 2-3 years using that money.
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14 October 2024 | 2 replies
The current discussion is that we'll agree on a payment and then "x" amount of each payment (same every month) will go to principal (instead of following an amortization schedule).
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16 October 2024 | 11 replies
2 more a little later in the day and 3 more scheduled over the 2 days.
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16 October 2024 | 10 replies
Then when property sells, you are subject to long-term capital gains, which is generally lower than the standard UBIT tax rates under the estate and trust tax schedule.
13 October 2024 | 9 replies
As a single-member LLC, the IRS considers it a disregarded entity, meaning the income, expenses, and other tax-related items will still be reported on your personal tax return via Schedule E.
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13 October 2024 | 11 replies
Schedule D line 12?
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12 October 2024 | 7 replies
After becoming a sole-member LLC, report income on your personal return (Schedule C).
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11 October 2024 | 2 replies
Definitely get multiple quotes to compare, but also check out their previous work, especially for the type of renovations you're doing.For managing renovations, having a detailed plan before you start is a lifesaver—schedule, materials, and budget.
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12 October 2024 | 12 replies
You will need to schedule annual meetings, prepare minutes and maintain good records.