@Alec Barnes As the owner of a property management company in Texas, I completely agree that a solid screening process is essential for placing quality tenants.

Quote from @ShaRae Kalian: Hi everyone,We’re facing a tough decision with our investment property in Chandler, AZ, and would love some insight from experienced investors.Here’s our situation: Purchased with a Hard Money Loan – Current balance: $300,000 Recent Appraisal: $385,000 Already Invested: $97,000 in renovations Rent: $2,000/month, which isn’t covering refinance requirements Refinance Roadblock: A DSCR lender is requiring $34,000 cash to close to refinance.

Vacancy + Maintenance/Repair figures you are using will only work for Class A properties. 

I actually just switched my properties to TurboTenant and am looking forward to this feature.

My husband and I own a small farm with our Airbnb on the property as well.

Hi Cassandra We manage a lot of properties in Las Vegas, including around the strip.

Because flips are considered inventory (not capital assets), profits will be taxed as ordinary income rather than qualifying for long-term capital gains treatment.For tax filing:Report expenses like construction costs, permits, and interest as part of your cost of goods sold (COGS)—these won’t be deductible until the property is sold.Since no revenue is expected in 2024, your S-corp may show a loss, but that loss won’t reduce personal taxable income until the sale occurs.Each partner will receive a Schedule K-1 every year, including 2024 and beyond, as long as the S-corp remains active.Unlike an LLC, S-corp shareholders do not pay self-employment tax on their share of profits.

Additionally, the buying process for these properties can be considerably longer. 

Which type of properties are you considering?

My new plan is to start with a small multifamily property or a couple of single-family homes, buying distressed properties using my HELOC to cover both the purchase and rehab costs.