Charlie Flowers
Discrepancies in deceased dad’s tax returns/ estate reporting
my dad passed away a few months ago. I have been collecting rent on 2 legal units and 1 illegal unit in a 3 family home. The rent is paid in cash there are no leases. My dad and i resided in the first floor apartment....
Karen Eggett
Does disregarded entity issue 1099INT?
I have a single member LLC (BV) that is owned 100% by a partnership LLC (ML) and is treated as a disregarded entity with all activity being reported on ML's 1065. BV paid interest to individual investors and needs to ...
David C.
Quickbooks Online … Class vs Customer
The QBO class tracking feature, found in the more expensive Plus and Advanced versions, is used by many investors. I’m wondering if using Customer instead of Class would work, thereby allowing the less expensive Simp...
Eric Jones
Conditional Approval for Married Couple
We have a husband and wife that have applied for one of our properties (both of them applied individually, as instructed). The wife meets the minimum requirements, but the husband does not meet the credit score requir...
Stephanie D.
Tenant's Debt Collection
Hi -Am I able to enter the defaulted rent amount on a tenant's credit even though we entered into an agreement in court?I filed an eviction in the Philadelphia court system against my tenants. The eviction was resolv...
Account Closed
need help:which form report commercial loan deductible interest?
Hi, My 7 property are under the same LLC (single-member LLC, 100% ownership). Therefore, I will report the LLC under my personal tax return. I have a commerical portfolio loan of 7 rental properties. One single loa...
William Hayes
As the owner/landlord. If I remove late fees from my tenants...
I have a question. If I remove the late fees to help my tenants due to COVID... Can I claim them as a loss? And if so, how do I document it?
David M.
Owner Statement on Appfolio
Hi, all.I hired a PM for my portfolio (10 SFH) and the portfolio inside a family trust (50+ SFH). I really enjoy the PM - he's responsive, has a good team of handymen and a couple full-time rehab teams on staff (neces...
Robbin Onuoha
NC Broker did not pay wholesaler agreed amount .. Advice?
URGENT! I am a wholesaler who agreed to let a realtor broker a deal. We had a verbal agreement that his commission fee would be split equally (3 ways) (another broker was involved too). After closing, he said he felt ...
Brandon Chidester
Tips for Collecting Back Rent
I've recently partnered with a seasoned business owner and Real Estate Investor who will be a great mentor for me. One of the projects I agreed to help him work on is working to collect a large sum of back rent from t...