We have several strategies to mitigate delays and fees that work well and keep the tax advantaged status of the account secure.

Background:First-time home buyerUp to $100k for downpaymentOpen to explore different parts of the city or even other statesOpen to leverage FHA or DPAWilling to settle for breakevenReady to close ASAPChallenge:Finding a property that can fully cover the mortgage through house-hacking and breakeven or potentially cash flow in Vegas, or other no-income-tax states.Request for Advice:Scenario 1 - Stay in Vegas and find a property that is viable to house hackHow are people house-hacking in this market?

Normally, on my taxes, I try to break even or make a little profit BEFORE applying depreciation to the property.I recently applied for my 6th mortgage, and the loan officer significantly lowered my buying power because he looked at all of my properties as losing money. 

Quick question, I’m in California and will have a sizable, capital gains tax bill owed to the IRS and the state of California in the near future. my question is how quickly does the capital gains tax liability need to be paid?

If you have the other expenses, such as the property taxes, water and sewer bills, heating bills if the landlord is responsible for those, electric bills if there is a landlord account, and any other bills you as the landlord would be responsible for monthly you can total them up and see if they will be more or less than the $900/month rent your apartment will generate once you eventually move out of it.

You're looking at flipped properties or things designed to be turnkey.The numbers likely don't work on these if you know how to properly run them (including accurate property taxes).

Hi Emily, I'd say Azibo, Stessa, REIhub are good rental accounting options that offer income/expense tracking, financial reports and tax reports (Schedule E).Azibo and Stessa offer business bank accounts.

No worries, we all need a hand with taxes.

It doesn't make sense be in a -$800 a month (at best) while paying a huge monthly payment with high property taxes.

We are not subject to federal gas lease revocation at the whim of the administration.