John Fairchild
Kansas City earnings tax?
25 February 2024 | 7 replies
Here is his 2 cents:"If you manage the properties yourself, then yes, it is subject to KC income tax.
Christopher Villa
Bank Owned Properties @Auction.com
27 February 2024 | 26 replies
I have bought 3 properties through auction.com and two other REOs through a different source.
Joshua Petersen
New to the community and looking forward to learning.
26 February 2024 | 5 replies
Remain dedicated to your objectives and keep learning as you go, regardless of whether your emphasis is home hacking for passive income, using the BRRRR approach to generate wealth, or flipping houses for rapid cash.Please feel free to join in conversations and ask questions on BiggerPockets—the community has a plethora of expertise.
Amy Mills
SFH in Rochester, NY 14620
25 February 2024 | 4 replies
Bought it furnished to rent out as an airbnb to utilize STR loophole to offset W2 income (husband and I are high-income earners).
Ryan Burke
Looking for advice
25 February 2024 | 4 replies
I am self employed and run a trucking company so I write off my income to pay as little tax as possible.
Mark Muleta
Back-to-back Loan Arrangement
25 February 2024 | 3 replies
Question is, if it’s a back-to-back loan arrangement, will the interest part of the repayment be taxable income to me?
Derrick Moody
Section 8 Housing
25 February 2024 | 7 replies
Your local PHA may also have resources to help match landlords with eligible tenants.The PHA must approve the lease agreement, ensuring it complies with Section 8 rules and rent limits.Pros:Guaranteed Rent Payments (sometimes even 100% based on certain tenant criteria)High demand for Section 8 rentals, which can reduce vacancy periods.Many Section 8 tenants prefer to stay long-term, reducing turnover rates.Cons:Properties must meet and maintain HUD's health and safety standards, which can involve additional maintenance and inspection requirements.The PHA limits how much rent you can charge, which may be lower than the market rate in some areas.Tenants must qualify for Section 8 based on income level and other factors, which may limit the pool of potential renters.Dealing with government agencies can sometimes be time-consuming and bureaucratic.In summary, converting your home into a Section 8 rental can be a good strategy for attracting and maintaining long-term tenants due to the stability and reliability of government-backed rent payments.
Jonathan Rosario
Tax deduction if LLC owns property
26 February 2024 | 5 replies
I do this every year, caviat is that it must be a single member llc, then you can combine it with your w-2 and deduct losses from your taxable income.
Alex Kosley
Paying off debt vs. investing in LTR - Thoughts?
25 February 2024 | 28 replies
I am a 29 year old male, married, with joint income living in Dallas.
Bryan N.
Collection of money without a formal eviction
26 February 2024 | 10 replies
If they don't have documented income or so, you're out of luck.