Thanks Your rental income (does not matter if long term or short term) of your schedule E is calculated using this form: https://content.enactmi.com/documents/calculators/Form1038.C...Your schedule C income will be averaged over the last two filed taxes returns.

thanks for the good info. the address of the building is 816 E 90TH PL. something was telling me that my trip to the building department would be unsuccessful ..thanks for confirming my theory. yes the violations require many permits for sure. no the building does not have a red X on it. i believe red X should warn the firefighters about structural damage, previous fire damage etc. what's the process in that case ?

However, if we file Sch E, we'd owe $7k.

Quote from @Scott E.: What are you trying to accomplish?

Additionally e-signing docs will be the best path, no one hand signs all those contracts anymore.Ultimately unless you find that magical buyer who doesn't want to use an agent and trusts you to provide everything needed for a smooth close you will be paying a commission to someone.

Andy, Nice to e-meet you.

In particular, your schedule E where you report income and expenses.

I would recommend deciding based on these criteria:Will you get along with them and if they are a good fit for the house.Do they have the basic credit, income, and eviction history that you require.Getting Leases and admin stuff set upUse e-sign technology to get leases signed.

I was talking about GCI - gross commission income - and that has been equaliced to e the same amount for all buyers agents.

Great info Phyllis E.