Sean Bramble
Executory/ land contract tax question
I’m considering buying an STR property with a land contract (also known as an executory contract or contract for deed) with 0% interest payments … meaning each payment would be pure principal pay down. No interest exp...
Layla Savant
Length of rental period when converting primary residence TO rental for 1031?
Hello everyone! From what I've gathered, when converting a property acquired via a 1031 to a primary residence, one needs to be very careful to not trigger tax consequences by rkeeping the newly acquired property for ...
Yoni Haiminis
Refinance tax implications
I am looking to do a cash out refinance on a property that has a lot of equity into it. Probably gonna pull out $75K. What are the tax implications on a cash out? Is this taxed like a regular income, capital gains, etc?
John Benn
Tax Liens, anyone successful investments?
I'm interested and Tax Liens. I've heard it's one of the best ways to save money and make interest. Has anyone successfully invested and made a profit?ThanksJohn
Krish Patel
inheritance tax pa sheriff sale
I bought property in sheriff sale and there was a inheritance tax lien on it when i went to sale. title company escrowed $5500 and asked me to get pay off statement if i want to get that remaining money back. I contac...
Andrew Yu
Bookkeeping & Tax on Owner Finance Sale
I sold a property thru owner finance, but I have a question about the bookkeeping/tax side of it. Here is the journal entry for it basicallyMy questions are:
Is the journal entry correct? 26K is quite a bit of reven...
Dustin Paschal
Strategic Entity Type and Structure for Diverse Real Estate Portfolio with Tax Focus
I have 5 questions, please read post in full for context before answering and indicate which question(s) you are responding. I have a non-majority share of equity in a few real estate industry LLCs located in multiple...
Berry Starnes
AirDNA calculator question for STRs
The question I have is when Customizing your estimate on expenses in AirDNA. I do not currently own a STR and am looking at the numbers to see if one will work in my situation.
The average daily rate includes cle...
Shafi Noss
Why 27.5 Years for Residential Depreciation?
Does anyone know where the 27.5 and 39 year numbers for deprecation schedules came from? They seem so specific, 39 instead of 40, 27.5 instead of 30, does anyone tax savvy know how these numbers got placed?
Joel Florek
Cash Basis or Accrual Accounting?
Question for the folks of BP for a project of mine. Are you filing your taxes using cash basis or accrual accounting? Bonus points if anyone knows data on how many non-employee businesses use cash basis vs. accrual ac...