Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

This is a capital gains tax free sale of your personal residence ( up to IRS limits ) and not a loan that will affect your DTI ratio.

A detailed floor plan of the property is also required.TOT (Transient Occupancy Tax)This is what lodging tax is called in California.

When you die, your heirs inherit the property at a stepped up tax basis capturing the equity tax free.

I’ve qualified as real estate professional since 2021 and just found a potentially good opportunity to acquire a property in Mexico that would make for either a solid STR and/or eventually our forever home.I’m completely new to acquiring a foreign property- how to finance, what purchase process looks like, how foreign STR is taxed, does real estate professional status matter, etc. 

Wondering if it's is more tax advantageous to use an S-Corp or a straight LLC for doing my flipping in?

DSCR also does not look at your income i.e. taxes, W-2, paystubs, etc but rather will look at the potential cashflow of the property. 

I have received a refund for a transaction that occurred in the previous tax year.Specifically, this transaction occurred in May 2023, but I received the refund for that amount in January 2024.

We live in Los Angeles, both are self employed 1099 independent contractors, combined annual income roughly 250k pre-tax.

If you got the permits and they are recorded with the county tax assessor, you can list them on the MLS, Zillow, etc as a five-bed with ADU!