Mark Vandzura
LLC in different states
I have several rental properties in my home state of NJ, all owned in a NJ LLC. I’m wondering, if I buy out of state should I set up an LLC in the states where properties are located?
Account Closed
Limit of number of mortgages?
I get the concept of finding rental property, getting a mortgage, and renting it out obtaining positive cash flow while soaking up the equity. However, is there a limit to the number of mortgages one can receive? Will...
Julie Washburn
Issue with CPA understanding Real Estate Professional
I am a Real Estate Professional, but I seem to be having trouble with my CPA understanding how to account for this. 2022 was my first year as a Real Estate Professional. My husband has a W-2 job with a large amount of...
Brie Schmidt
Too many loans? HELP
I own 3 properties in my personal name - I want to 1031 one of them into another investment property. The issue is I have 18 commercial loans to my LLC and I am 100% owner of the LLC so they are on my schedule E. My...
William Shadbolt
Blanket loans and FNM 'financed properties'
Does anybody know if FNM count properties financed with a blanket loan against the FNM limit of 4/10 (4 for cash out refi, 10 total financed)?Does anybody have any experience with B2R and their blanket loan?
Bob Woelfel
Number of tenants per bedroom??
Hey BP!Our local tenant laws say no more than 2 persons per bedroom, except for children born during tenancy. We will be renting a smallish (600 sq. ft.) 2 bedroom apartment in the next few weeks. I'd be curious to ...
Tony Vrolyk
Do IL occupancy limits require me to end a MTM lease?
Are there Illinois occupancy limits that would require me to cancel a month-to-month lease if the renter's family grows beyond those limits?I have a single family home that has been rented by the same family for a lit...
Jeff Bridges
SFR Insurance and umbrella policy option through rehab and beyond
I'm acquiring my 5th buy and hold property and plan to rehab for about a month, then market for rent. My current 4 are under personal landlord insurance policies through Geico and umbrella is also through geico. All r...
Pratik Jhaveri
Can you pass through rental income loss using an LLC?
Hi,I'm in the process of closing on a MFH and am getting mixed advice from two CPAs (one of them is my current CPA). At this time we are going to take title as individuals as one of the units with be owner-occupied by...
Joel Johnson
Common Areas in a House Hack (Taxes)
I just purchased a new, larger home. I am house hacking and renting out one of the rooms. I use TurboTax for my taxes every year and they want to know what percentage of my home is being rented? Do I get to count any ...