Dan Brainard
Two houses, one meter
I'm in the process of buying a property with two separate houses on it. A 3/1 main house and a 2/1 house in the back of the property. The houses are not metered separately and the lot is zoned sfh and is located in Ta...
Pat Martin
Anyone use series LLC?
Any of you guys in a state that allows series LLC use them? There is not much info from the IRS on these new entities and I am getting slightly different information from my accountant and attorney. Do you have t...
Diane Knapp
Need a DBA per each propety?
I have an LLC with 2 - DBA companies already listed under it. I have 5 properties and want to start a new Property company. Should I start a new LLC for the property company and then separate each property as a DBA ...
Rob Stauffer
PMs: Breaking up monthly vs. big project expenses
When getting an owner’s statement from your property manager, how do you have them break down your smaller, monthly expenses vs. big ticket items? Do you pay for big projects separately or does it show up on your mont...
Elsa M.
Landlord paid expenses
Hi everyone, quick question, once the rent is paid, what do I do with the money from "variable landlord paid expenses" (calculated by BP rental property calc) like Cap Ex, repairs, vacancy etc..? Do I open a new acc...
Devin Scott
Keeping your money organized
Using the 50% rule as an example, on a house that rents for $850.So $425 goes to expenses/vacancy. Is it best to deposit this portion in a separate bank account? So for those that have multiple properties, are you usi...
Jennifer S.
One Electric Meter for Two Units
I'm considering purchasing a triplex where two of the units share an electric meter and all three units share a water meter. I'm not purchasing this property at a discount so I want to make sure it's worth it. Is it w...
Ali Senchenique
Security deposit and rental income question
Question about bank accounts. Do you guys keep security deposit in a separate bank account and if so what kind? CD, money market account or just plain bank account? Also for rent, do you open a different bank account ...
Bruce Woodruff
Accounting /Tax Question?
We moved to a new state about a year ago and bought 2 STRs as part of our retirement 'plan'. Fast forward to April 2021...I took all the pertinent info to a new Tax guy that was recommended to me. We are under an exte...
Stephen S.
Duplex with common-utilities ?
Let's start by assuming that I have a duplex with utilities which cannot be separated. So separating the utilities is not an option in this case.How can I handle the utility costs?I can add secondary meters and then ...