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6 February 2024 | 6 replies
He kept avoiding our requests and said we should claim it in our 2023 taxes instead… The last straw for us was when he tried to charge us another $7.5k to file our taxes which obviously ended our relationship instantly.
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7 February 2024 | 34 replies
@Joel OhA taxpayer renting a "dwelling unit", such as a house, apartment, condominium, mobile home, or boat on a short-term basis, from a single room to the entire property, typically reports the rental activity in their individual tax return on Schedule E.
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5 September 2016 | 3 replies
On the plus side, I know that I'll reach them almost instantly.
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5 September 2016 | 2 replies
What I mean is if I get the seller to take an unsecured note (with a better interest rate to compensate him on additional risk), will that debt be counted as part of the "loan" in an LTV assessment if I try to get the property refinanced in a year (essentially will that note amount become instant equity for me which I can play with?).
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6 September 2016 | 13 replies
This is exciting because I've been thinking about the same thing but more for eco-friendly, modern dwellings for lower income families.
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7 April 2017 | 22 replies
Along with the standard work I do on projects, these units included replacing all galvanized water lines to copper, upgrading the electrical infrastructure and installing instant water heaters.I hope that this helps!
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10 September 2016 | 4 replies
You could possibly quietly get away with the use of that 2nd dwelling on the property as STR....
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15 September 2016 | 2 replies
If I were to have it appraised and now comes in at say $85k and now have instant equity, will a bank give financing on say 80% of that 85k?
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12 October 2016 | 24 replies
Learn the bylaw requirements for adding secondary dwelling units in your area.