Steve Kirsch
Hacking a primary residence and being able to write off expenses
Hello BPers,I am hacking my primary res SFH. It has an non-conforming basement unit that I am renting out. I am claiming that revenue as taxable income and am wondering if I am able to also claim a percentage of all o...
Andrew Graziano
Reflecting on my first 5-unit deal and some refinancing questions
Hi all,I purchased a 5-unit property last December. The property consists of a farmhouse converted to 4 1-bedroom units and a single-family home on a 5.5-acre lot in a semi-rural suburb of Buffalo, NY. I ran into some...
Ryan Lowe
Short Term Rental Tax Benefits for High Income W-2 Earners
Hi - looking to learn more about the tax benefits of a short term rental property for a high income W-2 earner. What exactly is tax deductible and is income taxed at my ordinary income rate? Any resources folks would ...
Nathan Olds
Termites survived fumigation
When i purchased my first property in June, there was evidence of drywood termites so I got the property fumigated before a tenant moved in. About 3 months later, the drywood termites are back and active. Has anyone h...
Chris S.
Deducting Mortgage Interest
I own a two family---live in one half and rent out the other half.
I have losses on the rented half -due to expenses , mortgage interest, etc exceeding rent.
My accountant tells me that i can't deduct this loss ...
Account Closed
Tenant Quality in RGV
I have been looking into RGV area recently. After talking to an agent, it sounds like quality tenants are hard to come by in the area. Or they don't look at credit scores AS MUCH when evaluating an applicant. Is this ...
Aaron Rowzee
Keeping Private Money Organized, Utilized, and Paid On-Time
Good afternoon, folks. First time poster here trying to figure it all out before I jump into the pond. I have a few buy-and-hold prospects with good leasing margins, but I don't have the 15-20% down for a mortgage on ...
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LLC or S corporation
"Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors" tells me that a LLC has the greatest tax and legal advantages but my CPA/tax attorney tells me that a S corporation is bet...
Victor Zhou
Capital gain on sub-divided property
Hello members,We got a house almost 10 years ago with a big lot. The house is leaning towards one side of the land, so we are currently working with the city to have the lot sub-divide, and have a new build on the ot...
Kevin Sapp
Tax on unused insurance settlement
Hi,Situation is a property that I own outright, had roof damage and received an insurance settlement. Because of the circumstances, sold the property, the settlement will not be used to repair the property. Some of t...