Giedrius C.
Passive investor in flipping and self employment tax
I will be a passive investor who will finance the flip and my partner will do all the work and we will split profits according to our agreement.My preferable way would be to buy it in the name of the LLC I own 100%, m...
Trevor Dominique
Tax Advice - Selling Failed Investment for Loss
Hey BP,Reaching out to get some advice from a tax strategy standpoint. I currently have 13 units and am looking to aggressively grow my business over these next couple years. I have one property that was a complete fa...
Marian Smith
Who to use as a QI in a 1031 delayed exchange
i don't see anywhere in the IRS code that states that the QI needs to be anyone in particular. It just can NOT be a relative, or your accountant, realtor, etc.I was just quoted a $1200 price for a 1031 exchange prof...
Colton S.
Home Repairs
Hey guys,I have a big question that we do not know. First off, we are buying a home in the Wendell, NC area, this will be our primary residence. That being said there was some repairs that we requested on the home to ...
Rob Pattison
Needing a second opinion on my $51k tax obligation
I bought a house in Costa Rica, using partially money from my 401k through a covid distribution, which meant I escaped the 10% penalty but still am liable for income tax.I'm 59, and took out approximately $200k. This...
Frank S.
Are Home Inspections required to be performed by a Home Inspector
This is a strange question, but the knowledge is out there!Can I get the property inspected by an colleague engineer, architect, or licensed contractor instead of using a Certified Home Inspector?Can this person's pro...
Martha Daisley
How much is enough liability coverage for a short term rental?
HelloI was wondering how much is enough liability coverage for a short term vacation rental. On the short term rental I currently own i have a commercial liability umbrella policy with coverage of 1 million/2 million ...
Ryein Goddard
agent threatens 3% comission
I had an agent that I worked with almost 5 months ago that was showing me properties. It didn't work out and I ended up not working with them. I told them we were getting out of the housing market and didn't need to...
Kathryn S.
When tenant does not respond
We sent a difficult tenant an update on ceiling leak repair. We are now ready to schedule a repaint job. Because he has been non-cooperative, we asked that he gave us a few days and time to schedule this job. He has n...
Kat Rathell
Prospective tenant red flags at showing
We had a showing at one of our C class properties yesterday, and a propsective tenant came in with a boyfriend. She submitted an application (incomplete, and that in itself is a red flag, short rental and employment h...