When expenses rise, which is almost always in one form or another, we are forced to raise rents. 

We are here to help each other grow.Get as much knowledge and experience as possible and find a mentor.Join real estate investment clubs.Get in touch with a local agent or investor and shorten your learning curve and save you a lot of headaches as they tend to understand the market better.All the best!

Yes, great would love to meet up as well what would be a good day for you, we are trying to see if Sunday is possible for everyone, but please let me know.

You have ordinary rates, not long-term capital gains, no matter what the next step is.And the next step is to determine whether it was business income or short-term capital gains.

Thank you,  Hey John,I use @Nicholas Aiola as my CPA for my Short Term Rentals and also have used @Yonah Weiss for a Cost Seg study.

Eventually everything will wear out, and part of the art of real estate investing is not over doing the rehabs because then you will use up funds you could have used on another investment property!

I would typically consider normal wear and tear, unless there were repeated attempts to mount the TV unsuccessfully, such as missing the studs multiple times, which I have observed on numerous occasions.

This year (2023) we are trying to figure out how to do the tax return for our partnership/LLC because the previous year (2022) the depreciation was on our personal return but now the depreciation needs to be on the partnership.

Do not try to do it yourself as most borrowers do not do as an underwriter will and they short change themselves.

And don’t forget about all the normal wear and tear maintenance issues.