13 November 2024 | 5 replies
I don't think it will be as simple as trying to just undo what the last owner did; you're going to need legal descriptions of each lot and that generally requires a survey.
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15 November 2024 | 10 replies
.: One or two cans of this and you're all set!
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23 November 2024 | 1 reply
What made you interested in investing in this type of deal?
15 November 2024 | 14 replies
It’s so much information that is out here to aid you.
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19 November 2024 | 0 replies
Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.
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21 November 2024 | 3 replies
Hi @Patrick Flanagan, and thank you for the shout out @Jonathan Greene, @Bill B.!!
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13 November 2024 | 9 replies
It sounds like a duplex or smaller multi so getting detailed information for this size of property may be very limited.
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12 November 2024 | 5 replies
I find myself lucky that I came across the BiggerPockets podcast a few days ago and now stumbled across this community.
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14 November 2024 | 5 replies
@Jonathan Greene thanks for that shout out!
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8 November 2024 | 2 replies
All this as revenge for not paying the ransom they held for transfer of tenancy.