Chris L.
NJ tax question on sale of house co-owned with parent
When my father died I inherited 25% of my fathers portion of my parents property at step up (mom disclaimed this portion) and my other brother inherited 25% at step ups as well (mom disclaimed this portion as well). T...
Amber C.
Capital gain tax exemption on primary residence w/ rental
Hi everyone I am new to real estate investment. I have a question on tax exemption.
If I buy a property for $700k and live there as a primary residence, but I rent out the basement for $1500 per month. When I sell ...
Patrick Hartnett
Tax Implications of Sale of Multi-Family (Primary Residence?)
I made my first real estate investment roughly 5 years ago, purchasing a 2-Family as my primary residence...living in 1st Floor Unit with my wife and we renting out the 2nd Floor Unit to tenants.
We're about to sell ...
Brendan M Loftus
Negligence or Scam: Atlanta AHA (section 8) Rental
Hi All,I purchased a house in Atlanta back in early 2021 and I took on the current tenant who was with the section 8 program. One of the reasons I kept the tenant was because the seller advertised she was paying $1,55...
Wade Penner
Move Out Inspection Form and Tenant Presence at Inspection
I have a singular move-in/out inspection form, which the tenants fill out upon moving in. It has signatures for the move-in portion, and then below for the move-out portion. Most of my forms are electronic, however ...
Ethan Farr
Looking for advice on strategy for first STR
I have an opportunity to purchase a lakefront lot on Table Rock Lake near Branson, which is difficult to find to begin with, but this is also a lot that is has no short term rental restrictions. The lot is over an acr...
James Sykes
Life Estate Deed Question that Cannot be Found on Google
Hey Biggerpockets Community! I have a tricky question that I cannot find any good answers for on the internet. Big fan of everything you give to our community. Here we go….So my dad signed over his estate (house an...
Jared Garza
No attic/ventilation.. is this a problem?
I’ve found a property which is 3000sqft 1 story home. The back portion of the home was added on and that portion has no attic. It’s about 3/4 of the total house. The front portion has an attic and ventilation but the...
Chris C.
Tax Write-off for rented room
Hi All, I recently rented out a room in my house for 3 months. What all can I write off?Also, he ended up not mowing the lawn (which he was supposed to), and the city came out and did it. I did have my friend mow th...
Steve Kirsch
Hacking a primary residence and being able to write off expenses
Hello BPers,I am hacking my primary res SFH. It has an non-conforming basement unit that I am renting out. I am claiming that revenue as taxable income and am wondering if I am able to also claim a percentage of all o...