Hi Community Newbie to the community looking to get started in rental properties.  I've heard of people using rental properties to lower their taxable income but I'm not clear how this is possible.  From what I'm gath...

Dumb question...I'm a newbie, please forgive...If I get 1100 a month in rent but I pay 900 in mortgage payments.  Do I report my rental income as 2400 a year?  or 13,200?

Hello fellow investors, I was curious about writing off my "home office" as a business deduction for tax purposes. What are the necessary steps to make sure I get this deduction? Thanks.   

Hello BP community! I recently used my home equity line from my personal residence to purchase a rental house. 1. Can I use the interest as a tax deduction on my tax return? 2. If yes then how do I know what portion o...

I am not an accredited investor. If I invest into a multifamily house, eg 25k$ for a certain % ownsership into the LLC that was created by the actual entity for that house. Can I use the depreciation to offest my W2 t...

In a perfect world I would be able to deduct my real estate losses against my very high W2 income. However, achieving "Real Estate Professional" status is not something I will be able to do in the near future.It has a...

So the majority of all of the contractors or people I hire to help at my rental I pay in cash because they don’t accept credit card or check and they don’t have an EIN. Another example is cleaning ladies and or painte...

Hi guys,I'm just wondering how one would go about with medical insurance, if you have quit your job to go into '"passive income" jobs full time?Would you have to get new insurance? To rephrase, if you've left your 9-5...

Ive been contemplating the "Replace your Mortgage with a HELOC" scheme to pay it off early.Heres my very specific question:If I do nothing with the HELOC , but simply replace my mortgage with it in the first lien posi...

My unrelated personal business has taken off and I may be looking at making $500k this year. I own no real estate. I've never made this much money or even close. I need to get rid of some of this cash so I'm not payin...