Joe Splitrock
Electric Car as a Business Expense
We are in a situation where my wife is soon to be quitting her job to focus more on the rental business. My daughter will be getting her drivers license this year, so we will need to add a third car. We could probably...
Stephen Mendoza
Tax deductible expenses for researching properties?
Under the assumption that there are no "dumb" questions...I am a newbie to real estate investing. Are the expenses I incur researching properties tax deductible? What about mileage expenses when driving out to vario...
Robert Smith
Chicago south suburbs SFH rental expenses
Hey BP, I recently started working with an agent who works in the south suburbs of Chicago (Homewood, Hazel Crest, Matteson, Lansing, etc). We are still feeling each other out but I can tell he knows way more about in...
Jason Aycock
Operating Expense Breakdown (Line x Line)
I'm sure this has been discussed before, and if anyone can find those discussions, please share the links. Can some BP members please share their Operating Expense breakdown as %'s of the total expenses, NOT includ...
Michael Chavarria
Expenses from 2016 on 2017 return
Hi, I realize that I need to speak to a CPA but I am trying to figure out as much as possible before I do so. Any help is appreciated. In 2016 I started a single member LLC. I purchased a property in June but it was...
Leonard Holmes
Expenses Not Associated with a Property
How do I account for expenses that are related to my LLC and not to any particular property? Most of the software I've seen organizes everything by property. So far I like Simplify-em, but I can't figure out how to ...
Abdenour Achab
Charitable Remainder Trust: Control and Expenses
If you have donated assets to a Charitable Remainder Trust, and became the trustee of the trust, please share your experience regarding control and ongoing expenses. I am trying to go through a shoulda coulda woulda e...
Jackson Long
Home inspections in less expensive markets
So far we've been super diligent about doing full inspections on all of our properties. We are now buying in a market where the prices are about half... This makes the inspection cost a bigger factor- at what point ...
Charles Crous
Assessing deals in an expensive market
What are the measures of success in an expensive market where the 1% rule doesn't apply?My main motivation for property investing is for income generation so that I can have the properties cove my expenses and not hav...
Shawn S.
Help evaluating park with high expenses
I am looking at making an offer on a park in the Southeast.Median house value 120kMedian income 39500Population 200kPark age 1970City water master metered. Owner pays water and trashGas and electric handled by city a...