6 January 2023 | 2 replies
, 2) get added to the basis and essentially only have 26 years of depreciation (27.5 - 1.5 years), 3) go onto its own, separate 27.5 year timeline, or 4) something different and if so what?
6 January 2023 | 10 replies
Copy & Paste off page 2 and 3 of Enrolled Senate Bill 608:(C) The landlord has a qualifying reason for termination and gives notice as specified in subsections (5) to (7) of this section. (5) [Notwithstanding subsections (3)(c) and (4)(b) of this section,] The landlord may terminate a month-to-month tenancy under subsection (3)(c)(B) of this section at any time, or may terminate a fixed term tenancy upon the expiration of the fixed term under subsection (4)(c) of this section, by giving the tenant notice in writing not less than [30] 90 days prior to the date designated in the notice for the termination of the month-to-month tenancy or the specified ending date for the fixed term, whichever is later, if: [(a) The dwelling unit is purchased separately from any other dwelling unit;] [(b) The landlord has accepted an offer to purchase the dwelling unit from a person who intends in good faith to occupy the dwelling unit as the person’s primary residence; and] [(c) The landlord has provided the notice, and written evidence of the offer to purchase the dwelling unit, to the tenant not more than 120 days after accepting the offer to purchase.]
27 December 2022 | 3 replies
In order to make this cash flow, I will live in the ADU and:STR Unit 1 (comps are 60-80k/yr)STR Unit 2 as both "entire house" and 4 separate "private rooms" with shared kitchen.
8 January 2023 | 7 replies
Or maybe analyze each unit separately somehow?
9 January 2023 | 2 replies
Your CPA cannot be expected to be an expert on lending guidelines as part of their general knowledge base and asking them to track your personal DTIs so you can qualify for lending would be a highly specialized separate engagement, not one that you should just expect them to keep in mind as they work on your projects and advise you on.
9 January 2023 | 1 reply
So, in essence, we treat the income & expenses as 3 separate units and we split the income & expenses 50/50 for the QJV and file the according Sch E's.
1 January 2023 | 3 replies
You need to operate the LLC as a separate entity, as that is what it is, with its own bank account and paying its own bills.
23 December 2022 | 2 replies
Does purchasing a single family home that we would live in with a separate rental on the property count as house hacking for getting a low down payment and having the rental income pay at least some of our mortgage expense etc.?
9 January 2023 | 6 replies
Since it’s a 3unit and with full open basement with separate entrance bathroom and kitchen is there a way for me to occupy the basement and rent all 3unit.
9 January 2023 | 5 replies
If I'm understanding the exchange rules, we would need to purchase that lot separately for at least $523K to maximize the tax benefits and would we need to finance around $200K.