Bought a rental property in LA County, CA back in April 2018.  Rented until Sept. 2018.  Hired contractor for renovation in May 2018. Due to unexpected increase in cost to complete renovation the renovation project wa...

Alright guys so here's a hypothetical (and it is an actual hypothetical right now as I haven't gotten a raise yet); let's say that someone is currently making below the income limits for a housing program and will be ...

Hello,I currently house hack a home with an adu in the back. I bought it in April of ‘19. Now I’m looking at a duplex across the street and I can only get it with 15% down owner occupied financing. I have a mortgag...

I've been following the realforeclose.com on several Florida cities and I'm stumped why properties are being sold for thousands of dollars higher than their "assessed value" listed on the site. Often times tens of t...

Hi! I've searched around a ton to find a simple answer to this to no avail. Maybe because it's been hard to wade through the flood of information on depreciation and expenses.I wanted to know the strategy behind wheth...

I'm just about to close on my first rental property -- a duplex. Currently, my wife and I contribute the yearly maximum to our employer 401K plans to decrease our taxable income. However, now we are considering r...

If the seller agreed to kick back $30k of there proceeds from the sell, for renovation cost on the property. Would you only need the Balloon Payment agreement signed to have the money kicked back automatically?

Bear With Me...And Please Forgive My Tax Maze Ignorance

My understanding is that the basis of investments is stepped up at the death of individuals who execute transactions in a tax-efficient manner. For instance, t...

Hi everybody, new to REI and I'm looking to learn as much as possible.  I'm from Los Angeles, originally from Florida, and work in the TV business.  My wife and I welcomed our 1st child last year and I'm motived to cr...

Can I deduct my rehab expenses from my 1099 wage earned at work, to offset my high income? I make 93$/hr (193K a year) on my 1099 and my wife makes around 95000 a year salary. I also purchased a rental home and I am g...