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Results (10,000+)
Jure Klepic CORP or LLC
26 February 2024 | 7 replies
The question you should be asking is1) What type of liability exposure would I be generating and will an LLC or Corp be suited for that.If you don't plan to own the property, I can't anticipate a piece of paper causing much liability, if any at all.2) What type of income would the tax liens be generating and would an LLC or corp minimize the taxes.
Cade Antonucci What do you use for security deposit set ups?
26 February 2024 | 6 replies
If the properties are split into more than one LLC, then each LLC will need its own accounts.Checking: collect all income here, then use it to pay bills.
Peyton LaBarbera Do you really need IRR or NPV in rental property investing?
27 February 2024 | 11 replies
Another way to look at it also is if you have a rental and you can increase rent by $100 and sell it in a year for a certain value, are you better off selling it today at another value or holding it for another year and collecting income?
John Fairchild Kansas City earnings tax?
25 February 2024 | 7 replies
Here is his 2 cents:"If you manage the properties yourself, then yes, it is subject to KC income tax.
Amy Mills SFH in Rochester, NY 14620
25 February 2024 | 4 replies
Bought it furnished to rent out as an airbnb to utilize STR loophole to offset W2 income (husband and I are high-income earners).
Joshua Petersen New to the community and looking forward to learning.
26 February 2024 | 5 replies
Remain dedicated to your objectives and keep learning as you go, regardless of whether your emphasis is home hacking for passive income, using the BRRRR approach to generate wealth, or flipping houses for rapid cash.Please feel free to join in conversations and ask questions on BiggerPockets—the community has a plethora of expertise. 
Ryan Burke Looking for advice
25 February 2024 | 4 replies
I am self employed and run a trucking company so I write off my income to pay as little tax as possible.
Mark Muleta Back-to-back Loan Arrangement
25 February 2024 | 3 replies
Question is, if it’s a back-to-back loan arrangement, will the interest part of the repayment be taxable income to me?
Derrick Moody Section 8 Housing
25 February 2024 | 7 replies
Your local PHA may also have resources to help match landlords with eligible tenants.The PHA must approve the lease agreement, ensuring it complies with Section 8 rules and rent limits.Pros:Guaranteed Rent Payments (sometimes even 100% based on certain tenant criteria)High demand for Section 8 rentals, which can reduce vacancy periods.Many Section 8 tenants prefer to stay long-term, reducing turnover rates.Cons:Properties must meet and maintain HUD's health and safety standards, which can involve additional maintenance and inspection requirements.The PHA limits how much rent you can charge, which may be lower than the market rate in some areas.Tenants must qualify for Section 8 based on income level and other factors, which may limit the pool of potential renters.Dealing with government agencies can sometimes be time-consuming and bureaucratic.In summary, converting your home into a Section 8 rental can be a good strategy for attracting and maintaining long-term tenants due to the stability and reliability of government-backed rent payments.
Jonathan Rosario Tax deduction if LLC owns property
26 February 2024 | 5 replies
I do this every year, caviat is that it must be a single member llc, then you can combine it with your w-2 and deduct losses from your taxable income.