When we filed out annual K-1s, I would get a lesser tax write-off than the other partners because I couldn't claim the 'loss' for the unit I lived in - you can't 'pay yourself' rent.

Property Info:Address: 1009 Hickory Rd, Windsor, Ontario Note: This property is located in East Windsor, which is a better part of town.Property type: Triplex - 2 upper units, one bedroom each. 1 Lower unit with three bedrooms.Costs: Asking price: $249,000 CADAssuming $10,000 CAD for closing costs, taxes, appraisalsMortgage: 20% Down, 30 Year amortization @ 4%Total initial investment: $59,800Calculated NOI:Listing data claims the property is earning $2800/mo in rental income; CMHC rental reports suggest the average rental income for 2x 1 bedroom units and 1x 3 bedroom units will bring in closer to $2500.

Most mortgages have this, it’s possible your lender will call your whole loan due in full if you quit claim deed (or any other method) your property to your LLC.

When I am claiming my income from my house hack (rental property) am I supposed to be claiming everything I make or just my NOI?

The tenant who recently vacated this unit claims that he left the unit in "broom clean" condition.

You clearly haven’t had to deal with claiming that security deposit you’re excited about... nearly impossible unless the guests green light it.

Assets in an irrevocable trust are shielded from creditor claims, estate taxes and a Medicaid spend-down.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

My buddy spent a year and a half fighting a kitchen fire claim.

Is an insurance company going to do a DNA test to deny a claim?