Lisa Maturo
Whether to sell, re-rent, or do Airbnb with a rental house
I own a rental 3br 2ba rental income home in Tempe AZ and I'm considering scenarios after my renter just gave 30 days notice. Can I do a 1031 exchange on a rental? Also, do I have to live there for two years
in or...
Scott Forbes
Capital gain on sale of principle residence
I have a question regarding the IRS exclusion of taxes paid on the sale of a principle residence.Here is the scenario: Tenant has been renting a condo for 7 years and it has been their principle residence.The landlord...
Tony Davis
Real Estate Accountant fee
I found an accountant I like in my area. After reviewing previous years taxes he gave me a quote. It’s 1,675.00 up front plus another 100.00 a month maintenance. Is this a normal type of fee for this service?
AP Horvath
Valuation on CRE as cash business without tax returns?
When you are looking at a Mom & Pop deal like self-storage or self-service carwash -- and the seller absolutely refuses to provide financial statements or tax returns -- because they have been running this as a ca...
Peter McCauley
House Hacking a Single Family within Year 1 of Mortgage.
I’m currently looking at purchasing a 3 bedroom / 2 bathroom Single Family as a first time home buyer. I want to live in one bedroom and fill the other two bedrooms with “Tenants” / old college friends that have agree...
Brandon Krasner
STR Partnership LLC Tax
I just started operations in 2024 doing STR arbitrage. Here is the structure of the LLC's:-I live in PA and have a holding company LLC incorporated in DE.-My business partner lives in MA and has a holding company LLC ...
Brendan August
CARES Act 401k Loans
Hey everybody, I was just wondering if anybody has made use of the the CARES Act to withdraw money penalty free from their retirement accounts? I understand that you still have to pay taxes on the amount but you can s...
Mike Hanneman
Tax deferment on 2nd home
I was wondering if there are any tax deferments for selling of a 2nd home and using proceeds to lend to someone for an investment property. Do the standard tax deductions apply when selling a 2nd home? Can you roll th...
John K.
Agent forming an LLC or S corp
I am currently taking an online course to become an agent in New York. One question I have is in regards to an LLC or S corp for tax purposes. I keep getting conflicting information on weather it is a option or not as...
Jonathan Jaffe
Renting from yourself
Dear BP Family:I'm thinking of trying a 'House Hack' using my own future primary residence. I have a foreclosure option that can be purchased cash and then potentially refinanced into an LLC. Has anyone ever thought...