- bought house in May 2016 for $212,900- Mortgage balance is around $182,000 at 3.5%- I’ve put around $15,000 into it- 2017 tax assessment: $225,000; 2018 $250,000- would list for $269,000.

You can use the standard rental income form or I believe IRS prefers it to be taken as self-employment income (schedule e / schedule c) which if is a loss, can be deducted off your regular income, however if positive may incur paying more.

When you use a Self Directed IRA to fun the down payment and the rehab of a project and then when you give the ROI back to who you got it from, can you give it to them in cash or a check instead of the earnings having to go into the IRA.

Hi there, I am ready to rent out two apartments after extensive renovations on my first rental property in Jersey City, NJ. After having inherited some uncooperative tenants who caused a lot of stress and agony last y...

Specifically, since the mortgage is a self- liquidating liability, funded by tenants’ rental payments (assuming, of course, at least “break-even” cash flow), this new equity never came from the owner’s pocket.

I would say to learn a trade that interests you to actually do and just learn enough about the other trades to be able to assess the proper way to fix problems and make sure you don't get screwed.

In our case, the complaint was 100% frivolous - we evicted a tenant for non-payment of rent, but since she was in multiple protected classes, she claimed discrimination.Here is how the process went for us (we're in OH, so YMMV):We contacted the attorney who'd filed for eviction, as we self-manage.

BUT, through the ever-expanding magic of the internet, you can still assess the honesty of a provider (to some degree) by using Google Earth to virtually walk the streets of the neighborhoods you'd be investing in.

Hello, my realtor found a tenant for me who appeared to have high income and great  references. come to find out that all are falsified. she stated she worked for a government agency and that was false, reason I know is I found her on facebook and she is self employed - WITH BAD REVIEWS AND ONE OF THEM WANTS TO SERVE HER - YIKES,  I can also see who she used as references, which are her FACEBOOK FRIENDS -NOT HER EMPLOYER. 

I want to help but I'm in California and we actually have a Flipping Academy but because you are there you have to be really self motivated.