Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

Although my thought if something was in the works we would just exercise and closeThe problem is of course, the first time you become aware the borrower is having a problem is when you have title run prior to exercising the option and find recorded judgments and federal tax liens.I think you also have to be cautious about the terms of the option and the consideration paid for it. 

I’ve qualified as real estate professional since 2021 and just found a potentially good opportunity to acquire a property in Mexico that would make for either a solid STR and/or eventually our forever home.I’m completely new to acquiring a foreign property- how to finance, what purchase process looks like, how foreign STR is taxed, does real estate professional status matter, etc. 

What taxes will we need to pay besides the capital gains tax? 

I have received a refund for a transaction that occurred in the previous tax year.Specifically, this transaction occurred in May 2023, but I received the refund for that amount in January 2024.

They formed all of my entities, prepared my trust and handle my taxes for me. 

But property tax rates can be lower if you purchase properties in this area located in Wise County.

Navy Federal CU does HELOCs for investment property.  

Wondering if it's is more tax advantageous to use an S-Corp or a straight LLC for doing my flipping in?

DSCR also does not look at your income i.e. taxes, W-2, paystubs, etc but rather will look at the potential cashflow of the property.