Hi BP,I received a letter from the IRS that I been selected to be audited. I am not sure what my first steps should be and what this process will be like. Could someone help share their experience with me and what I s...

I'm looking at a property that's going up for tax sale and I see it has 2 open IRS liens on it. I know in other states, such as FL, the IRS has 120 days to redeem the property - they pay you back what you paid plus 6%...

Hello all, I recently found BP. Up until now I have sat back and observed/ absorbed all the useful information.

My experience (10 years) revolves around commercial real estate finance. Since 2007 I have been engulfe...

My partner (also my fiance) have been vetting CPAs for the last month. After getting many proposals we are not sure the money we spend on them will be worth the money they will save us this year due to such a small po...

Hi BP Community! I am about 3/4 through my first rehab for a buy and hold property. Everything was permitted of course right off the bat.  All drawings and plans were submitted to the city.  The plans have not chang...

Is docusign of lease agreements a good idea? Is it acceptable in court? I am getting a new tenant and this should simplify the process.

Hi all, I tried searching but could not find the answer. I have two questions that have been on my mind for a while and hopefully someone here can answer them.

1. Is interest from hard money loans tax deductible?
2....

I purchased 1st position note. I have hired FCI as a servicer. I just want to make sure that now I can sleep well hoping that someone else will take care of following all local/federal laws (yeah right …) in exchange ...

IRS will challenge the 750-hour requirement under §469(c)(7)(B)(ii).   The Temp Regs set forth the requirements to establish hours of participation §1.469-5T(f)(4):  "The extent of an individual's participation in an ...

***Please move post to the correct section, if this is in the wrong one. I apologize, in advance.***Hello,I know there have been other posts about when to post a property for rent, but none address the possible tax ad...