I always fill out a detailed report ahead of time (i take a couple of hundred high resolution photos date stamped as well to document condition), then go over it with the tenants when they arrive.

As reported, many have changed hands a couple of times since then.The current "down cycle," as reported in the Republic, has lasted over 6 years.

That means you must at least file Form 1065 US Partnership Tax Return.All incomes and expenses will be reported on this form and that income will pass through to the both of your personal tax returns based upon your ownership percentage.The limit is different for one person versus married.Your biggest mistake is using a program to answer your questions.I represent taxpayers(individual and business) before the IRS.

We can meet up if you want.PS: Thank you for the propertyshark report last week.

Since I sometimes had to pay for the water, I told them to immediately report leaks/drips, I fined them $50 once for not telling me the toilet valve was not shutting off.

There is lots of good news in this post.1.

Just waiting for the bank also sign and have a fully executed contract.Good news is that the bank will evict the person living in the house (That's a relief) since the tenant is not cooperative and they don't allow the county to do the certificate of occupancy (which is needed in my county for every foreclosure sale)PS ( 3rd lesson learned: Deals are like taxis, when one passes, the next one will come...i read that somewhere in BP and in this week I found another potential short sale I am planning to pursue also)Two questions:-Assuming the Certificate of Use comes saying the property needs to fix X Y and Z before is a livable property, How can I leverage this lo lower down my offer again?

If it's a bigger project, I suppose you might need a structural engineer to weigh in with a report.

Call the Housing Authority, you might qualify for "owned hosuing" efficiencies/#bedrooms.Being the first male to be expecting a baby is real news, go public and I'm sure some book deal or movie signing will take care of your housing needs.....

There technically does not need to be a partnership return prepared as a rental activity can be reported separately.