Kyle Roberts
Banking and Accounting for Single Family Home House Hack
Hi Everyone!I recently purchased my first property, a single-family home in Richmond, VA and am planning to house hack. I'm trying to figure out how to set up the banking for managing the property. I've heard it's bes...
Gabriel Zepeda
New to House Hacking
Hello Everyone,I just purchased my first 5-bed, 3-bath house using my FHA loan, and I am planning to rent out the rest of the rooms. I would like to keep house purchases like fridge, washer, dryer, etc. separate from ...
Ivan Rodriguez
Personal Accounting Program/Software easy to use and reliable?
Hello Biggerpockets friends, I wanted to ask anyone who uses QUICKEN for Personal use and how good you recommend this and/or if some else uses other softwares for personal accounting. Quicken's membership is about 42...
Patrick Menefee
How are non-LLC business expenses handled?
I have 2 properties under contract, one in my name and one in the name of my LLC that I just opened. I have a bank account and credit card I’ve been using so far for the one in my name, and once I get my EIN I will op...
Jean-Marie Poth
Pulling income out of my rental account
I am a new landlord and my rental bank account is just starting to gain a little momentum. I keep it separate from my personal accounts. Apart from keeping what I need as far as mortgage, taxes, insurance, and cushi...
Kevin Kendall
Scedule E, Scedule C or 1065 partnership
My wife a I are buying our first rental property and I am trying to figure out how to file our taxes. We will transfer the property to an llc. We live an the property is in co which is a marital property state and the...
Kole Kingslien
The Flow of Money in relation to Rental Properties
Hello BiggerPockets community,I have titled this post "The Flow of Money", so it does not get confused with the term "Cash Flow". I have just purchased my first rental property, and am trying to understand how the mon...
Joshua Myers
Visiting my short-term rental. What can (and can't) I write off on taxes
Hey all! I live in Ohio and own a condo in Destin, Fl that we use as a STR. We are going to visit next week and stay in the property. We have been renting it out since September. There are a few things that I will doi...
Account Closed
Business Bank Account
I understand the importance in keeping personal and business bank accounts separate, but is there any advantage or disadvantage in keeping them in separate banks?
Christina Maciejeski
LLC or Trust for one Vacation Rental Property
My brother and I just inherited the family cabin this past winter. Our mother is moving to FL and does not want any financial ties to the property. The cabin is still currently homestead, even though my brother alread...