Lindley Garcia
Hot Tub Expenses - is it Tax Deductible?
I apologize for my ignorance, I am planning to purchase a jetted hot tub for my vacation rental property to maximize rental pontential. Can I deduct the purchase cost (getting a used one), installation cost, electrica...
Mark Bosworth
Rehab Costs - What to Expense versus Capitalize?
So when you are doing a rehab, how do you handle categorization of expenses into capital accounts verses expense accounts? Do you even try to keep track of the difference? Any significant renovation to the house cou...
Jay Sheth
Cheaper vs expensive properties in a city
hi,Is there any logic whether to buy 2 properties for $90k with rental of $700 each vs buying a single property of $170k with rental of $1200. I generally go with 30 year fixed and 20% down. Generally speaking closing...
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What to do with Operating Expense Reserves
Like a lot of newbies here, I was surprised to find that operating expenses run about 50% of your rent collections. My question is, what do you do with all that money. Obviosuly you are not spending hundreds of dolla...
Jeff Takai
Need Help! Tenant’s company will cover expenses
Hi BP community!I have a prospective tenant who is currently living in a hotel. His company has agreed to pay for his living expenses. I’m wondering, do I put him as the primary tenant on the lease and have the compa...
Jordan Regier
finding Rental Properties in an expensive area
Hi my name is Jordan, I'm 31 from Walkerton, Ontario. I've been investing in real estate for about 6 years now building and selling houses. I've done quite well building a large amount of capital, equity and a great t...
Connor Deneen
Credit Card Recommendations For House Hack Expenses
I will be living in one unit with a friend and renting out the others, there is some rehab that needs to be done in some of the units and after I take possession tonight I plan on opening up a separate credit card as ...
Robert Stamper
Expense Tracking Software or Spreadsheets. Best Solution?
Hi All, My Wife, @Sarah Stamper is a flipper starting on her second property now. She does all her flips in a single member LLC to keep our taxes nice and simple. I was planning to get her set up with QuickBooks a...
Robin Ryan
Rental Expenses Incurred Before Property is Rented
We moved from our primary residence 4/25 and spent a few months painting, reflooring, etc before deciding to rent it instead of selling. It was eventually rented on 8/15. Question is - are mortgage interest & pr...
Jack Connolly
Documenting Cash Expenses for Tax Write-Offs
If I opened a separate Chase bank account that is strictly for deposits and expenses related to my single investment property, for tax write-off purposes how do I document cash expenditures to a contractor doing repai...