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9 October 2024 | 3 replies
California Senate Bill 567 (SB 567) allows for "Just Cause" Eviction if a landlord will "Substantially Remodel" a property: https://oag.ca.gov/system/files/media/Tenant-Protection-Act-...
10 October 2024 | 0 replies
Tax rates are lower than for short-term capital gains tax.Depreciation recapture tax: Filing a noncash depreciation expense can help reduce tax liability.
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8 October 2024 | 4 replies
Hey @Patty Mac, I recommend commissioning a tax pro to help with your filing and ask them this question.
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8 October 2024 | 5 replies
It looks like no matter what, my actual name will need to be filed on annual report with the NC LLC (even using a registered agent).
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8 October 2024 | 6 replies
Reposting from one of our FB forums:Homeowners who need to file insurance claims - read on.
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5 October 2024 | 1 reply
Hello Fellow BP Members,I am excited that I found my first property for an STR but stressing out over the lender not meeting closing deadline.
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11 October 2024 | 56 replies
Good to have clear deadlines but overshoot them with a bit of buffer when possible!
10 October 2024 | 0 replies
Since the Internal Revenue Service (IRS) doesn’t consider child support taxable income, I would not consider it in the rent calculation unless you have a HUD-specific home.According to hud.gov, “[rental property] owners must count alimony or child support amounts awarded by the court unless the applicant certifies that payments are not being made and that he or she has taken all reasonable legal actions to collect amounts due, including filing with the appropriate courts or agencies responsible for enforcing payment.”So, does child support count as income for renting?
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13 October 2024 | 23 replies
If the title of your properties is vested in an LLC, and you file a BUSINESS tax return, it's important to note that positive rental income cannot be used to offset your DTI.
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4 October 2024 | 2 replies
If you fail to meet deadlines and satisfy the violations during subsequent inspections, Section 8 may abate their rental portion.