Todd Ashelman
How to find if a property is FHA Approved?
23 March 2017 | 1 reply
You can use this webiste https://entp.hud.gov/idapp/html/condlook.cfm - this is the FHA website and lenders use this to determine eligibility before processing a loan.
Jacob Beg
Will you rent to this tenant?
25 August 2022 | 51 replies
@Jacob Beg It is a fundamental error to ever ask "should I or shouldn't I rent to this person", that question should NEVER exist, it's a non-starter.
Rick Figurasin
Buying a home in Hawaii
3 February 2023 | 14 replies
It's a fantastic way for anyone VA Eligible to save some money, and there are a couple programs here that help with the balance of the purchase price.
Bernard Reisz
Cost Segregation Studies and Reports
28 February 2023 | 11 replies
For context, let's cover some Cost Segregation fundamentals, and explain the interaction between Land Value and Cost Segregation:Cost Segregation is the process of (a) segregating a "building" into its component parts and (b) allocating the lump-sum acquisition cost to those components.
Account Closed
Doctor's note for cats?!
13 October 2016 | 49 replies
Basically, if they have a doctor's note stating that they require said animal due to a disability, you can't tell them no, unless:- There is reliable objective evidence that the animal poses a direct threat to the health or safety of others that cannot be reduced or eliminated by a reasonable accommodation;- There is reliable objective evidence that the animal would cause substantial physical damage to the property of others;- The presence of the assistance animal would pose an undue financial and administrative burden to the provider; or- The presence of the assistance animal would fundamentally alter the nature of the provider's services.Unfortunately, deposits or pet surcharges are not allowed for animals covered by these laws.Now, all this said, landlords in my area usually just deny or evict folks with doctor's noted pets anyway and I've never seen someone bring suit.
Kelvin Law
Sell or Rent
22 February 2023 | 4 replies
Two family house Purchase Price: $880,000 Intend to sell for $1,380,000Current information:1 FL rent: $26002 FL rent $2300Mortgage payment: about $3000/month (inc the property tax)Utility: appx $1800/ yrReasons to sell: slope down drive way, easy to get flooded, flooded during last hurricane Ida @ 2021, bad storm/sewer drainage in the area so flood likely to happen when there are heavy rain fall (with the weather nowadays, I'm afraid crazy weather will happen more often), need to renovate 2 floor (maybe $15-20K with cosmetic work, etc)Reasons to keep: nice location, nice neighborhood, quite and good school district, okay cash flow, Cons with selling, I do not live there 2 years period out of the 5 years time when sell, so I m NOT eligible to use the capital tax gain reduction (250K/person).
Irena M.
Do I qualify for first time home buyer loan (less than 20% down)?
9 June 2020 | 3 replies
So, the double good news here is that you should be eligible for a less-than-20%-down loan (assuming you meet all the other loan qualification criteria!
Bryan O.
Roll Over Current Employer 401k Funds
13 October 2015 | 4 replies
Then you have to wait for taxes to get that amount returned to you.So basically, you want to know if you have met any time-at-company requirement and can do a non-hardship, in-service, direct (trustee to trustee) transfer to another eligible plan with no penalties from your company.
Christopher Brown
Coronavirus changing deal fundamentals
20 June 2020 | 15 replies
I am in my 180-day period for a 1031 exchange with $2mm in escrow and two properties under contract: a stabilizing self storage deal in a small but growing market and a NNN deal with three QSR (two credit quality nati...
Andrew Miller
CPA Recommendations for NJ and England/UK
10 October 2020 | 1 reply
@Andrew MillerThere are unique tax laws when you have a US citizen/Resident who invests abroad.Income that you earn abroad first needs to be converted into USD when filing US tax returns.You may be eligible for a credit for taxes paid to a foreign countryYou may be required to report bank balances in excess of $10,000.Good luck in your search for a CPA.