Remember In Hawaii, STRs come with extra taxes: a 10.25% Transient Accommodations Tax (TAT), a 4% General Excise Tax (GET), plus a 0.5% Oahu Surcharge Tax on gross income from rents.

We also have options for non-accredited investors to receive the benefits of owning a loan, but also the tax benefits of not having to pay ordinary income on the interest

We are exciting to join BP and are hoping this is the start to being financially free so we can prioritize our time with family!

I did make a trip to Detroit and drove around neighborhoods to realize 'every block is different'.Its still sounds lucrative wrt ROI, but with concerns of- Property taxes : probably most complicated of all states- Home insurance is too high- Property management is too variable, anywhere from 6-12%.

Do I need to worry about that NOW or is that a “next year at tax time” thing I can take off my plate and revisit in a few months.10.

Helocs must also be calculated in underwriting based on fully exhausted payment meaning even if you only use a portion during the next purchase they underwriter will hit you with the full payment for risk.Cash out on the other hand is a liquid reserve tax free and it only requires (1) mortgage/lien.

I initially looked at this deal as a flip but realized it works as a BRRRR and I would prefer the tax benefits to the tax penalties of a fix and flip.

This is for my 2023 tax return, and I have filed an extension. 

Everyone makes mistakes now and again when filing a tax return whether it be forgetting a deduction, missing a portion of your income, or improperly depreciating an asset.

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