We moved into our studio ADU and rented out the main house, worked our tails off to pay off credit card debt, refinanced and now live in the main house and rent out the ADU where the tenant is paying more than the interest on our loan.

Everyone researches things to death, builds a BS " Power Team" " looking for PM, looking for attorneys or accountants, and NEVER do a deal. " I'm getting into the X market, what does that mean, you are either in or not.

I use it for multiple businesses so makes sense for me to purchase the desktop version.I always set up a bank account for each property (no matter the holding entity) so the accounting is easier to filter through.

Credit.

Credit markets are tough right now.That rehab paragraph was a VERY tall order, which I think is why most folks are doing rehab loans with the hard money loan guys charging 13%+ and 3 points... 3 points and 13% is painful, but LESS painful than trying to check all those boxes laid out in the previous paragraph. 

You need a specialty provider firm specializing in these types of account to set up IRS-compliant plan for you.Solo 401k plan is not for everyone, you must be eligible in order to establish one.

Good info, Mr Kaado, ill have it into account, Thanks many.

Hey @William Ryans, As accountants on BP, we are not allowed to self-promote.

The majority of taxpayers are required to settle their tax dues by April 18 to avoid penalties and interest accruing on any outstanding amounts after this date.For those residing in Maine and Massachusetts, the deadline is extended to April 19 due to the Patriots' Day holiday in these states.How to Request an ExtensionIf you find yourself in need of an extension, the IRS provides convenient options to make the process smoother:File Form 4868:Utilize your tax professional, tax software, or the IRS Free File platform on IRS.gov to submit Form 4868.Individual taxpayers, regardless of income, can leverage Free File for an automatic extension request.Electronic Payment Method:Make an electronic payment using Direct Pay, Electronic Federal Tax Payment System, or debit/credit card or digital wallet.When selecting the payment type, indicate it's for an extension.

When banks check your refi eligibility, they eyeball your credit score, income, and the property's value.