Hi all,I am an investor-friendly agent so I spend my days showing properties in dire need of repair and as a designer, I am jumping for joy over all of the POSSIBILITIES I see in these potential flip deals.But as an agent, I'm sending them to my clients.

Only 2k per year into it though.I'm less familiar with Coverdells but I'm pretty sure that room and board are qualified expenses (as someone else pointed out: to the extent that they do not exceed the on-campus room/board numbers of the relevant college), so yes, if she were to rent your place at market rent then that would likely qualify.Now, from your response, it's also possible that you are thinking of using the 529 or Coverdell for investment purposes in the same way you could use a self-directed IRA, for example.  

Good morning BPers,I closed on an out of state (Kansas City) rental unit. The PM uses Appfolio and when trying to set up the ACH transfer to deposit rents to a bank account in NY, Appfolio (which is based in CA) state...

. $500 mortgage would make your cost of living there $200, would it be possible to refi to get some of the money for the garage conversion?

Always do the math anaysis and try to look at the prospective property before you make an offer on it or at least have a clause in the sales contract that will allow you some time (about 15 days) to make a detailed inspection and possibility of backing out of the deal without a penalty that will hurt you too much.  

It's an option that can be used to get into the business, but if you should do it can only be determined by you and your husband, possibly with the help of a CPA or similar professional. 20-45k is generally enough to get started, depending on what you're getting into and where you are.If you are going to be risking your primary residence with a HELOC, my suggestion is that you make sure you could handle the possibility of that money going into a failing investment and getting lost.

It takes a few weeks longer than normal, if you really stay on top of it and get the paperwork done as quickly as possible.  

I may possibly be on to something, or I may be on to something I shouldn't bother with. 

There are workarounds which would require your accountant to understand and possibly make some year end adjustments but it (QB) could be made to work how you want.

Take your time and learn as much as possible, so you do not make costly mistakes.