Yolanda Williams
Flipping Income Gain
What amount is considered income on house flipping for tax purposes?I purchased a home for cash-no mortgage for 25k put 25k in repairs in and sold for 79k, net 71k. How can I defer or decrease the taxation on income. ...
Mike Roy
Augusta, Maine
Hello BP - I'm curious if anyone here owns multifamilies in Augusta, ME and your thoughts on investing in the capital city. From a 30,000 ft. view, it seems like there are some decent residential neighborhoods and a ...
Jeff Miller
Sec. 121: Is Home Office to Support Rental Treated Diff. vs. Other Home Business Use?
I'm trying to reconcile my (50/50) partners historical tax treatment of our mixed-use residential property with mine, among other things.
She's always had a tax pro, I've always DIY.
A big mistake: I've always done...
Michael Brady
Current deal
I have a condo that I own free and clear. I am buying a new primary residence. I got a home equity line of credit to make the down payment. Anyways I was initially planning on selling it and using that money to found ...
Shaun Callais
Turn Primary Residence into First Rental? Help Me Decide
My wife and I are in the process of doing a cash-out refi on our primary residence in Utah. We owe about $129k and the house is valued around $290k. At 70% LTV I can borrow $73,500 at 3.125%, 30-year fixed interest ra...
Nyi Nyi Thein
Tenant Unattended Passed Away
Hi, Tenant from my rental property passed away unattended for more than two weeks when the body is found. It is natural cause of death. It is sad to see that happen meanwhile there are things that need to be taken ca...
Will F.
Termites? Occupied 4 unit? Treatment -orange oil- tenting - DIY??
Anyone have recommendations for treatment of termites. I'm in Southern California- have wood frame 4 unit occupied building. 2 stories. There's several places on wood trim, wood frame, doors, windows, with holes and ...
Jay N.
Tax treatment - HELOC $ used for down payment on investment prop?
AllI purchased couple of properties using my own money earlier this year. Funded my LLC and bought the properties.Am thing thinking on drawing down on my available HELOC the same amount as my down payment.What would b...
Justin Calmes
Termite help!
I have a house I purchased 18 months ago. It was inspected and cleared of any termites. I haven't had it inspected since. I've had 2 termite inspectors come and look over the house. They each told me the house is t...
Mike Gennaro
Starting an RV Park: How much is an on site sewage treatment plant?
Hey there BP community,
I'm obtaining quotes to develop an RV park, and I want to know how much should we expect to pay for an on site sewage treatment plant.
Has anyone gone through this before with mo...