A friend of mine has an LLC that he has never filed a tax return on.  Is that legal?

I have a situation where I am under contract for my first property. It is a 4 family, that I plan on owner occupying. 3 units are already occupied, with 2 tenants that seem responsible and cooperative and one that is...

My tenant of 29 days is asking for a month to month lease so she can find a new place due to roaches.  She sent me this long formal letter asking me to change her annual lease to month to month because she is seeing r...

Hi, I'm a bit new to landlording/investing and I'm just trying to get mentally prepared for some fun tax filing next spring. Wondering if I may ask a couple general questions to the wonderful community here. In unchar...

Here is my review and I don't work for any of these stores.I needed to order lumber and my contractor suggested that I contact Crown Lumber or Home Depot for the materials.  I wanted to try TW Perry.  Here is a quick ...

Hi BP Nation, we are planning on purchasing 5 or 6 vintage trailers & Airstreams to place on property we already own.  We will renovate each trailer and rent each trailer as individual vacation (Airbnb) rentals.  ...

Hi all! I hope everyone is staying safe and sane through these strange times. I am scratching my head (figuratively) and hope a few can give some advice. I have a condo in a large gated community of both sfh and condo...

My parents own a townhome as joint tenants. However, they want to transfer it to a separate entity (likely an LLC) for protection against liabilities and to start growing their portfolio. I *believe* that the IRS does...

I am buying an investment property. just finished inspection. Termite damage on door header was noted by inspector. but Seller said they had a contract with a pest control company for treatment every year. Dose it mea...

Hey All,I have two different questions but they are ultimately linked. I'm super confused at this point on the tax advantages of buy and hold RE. I have been talking with my aunt who is a CPA here in the Houston, Texa...