Lisa A.
Are these lease terms legal and/or enforceable?
I have a question if two parts of a lease in Michigan are valid, legal, and or enforceable, and what to do if they are not.The first one: "The renter agrees to vacate the house within three days after being notifi...
Chelle Knijnenburg
what are hidden costs when selling a rental property.
I was told that when a rental house is sold, we would have to "pay back" costs like replacing hot water heaters, HVAC, replacing carpet, painting, etc. that we previously used against income from the rental business a...
Gretchen P.
Foundation issues - costs?
I am considering making an offer on a property that has some settling and foundation issues. All doors and windows operate correctly, and don't appear to be affected. The engineer's report says it will need 10-12 unde...
Paul C.
Investment Interest or Passive Interest?
If I take out a loan to fund an investment in a notes fund, is the interest paid on the loan "investment interest" that goes on Schedule A or "passive interest" that goes on Schedule E?I found the following in "The CP...
Kevin Kroll
Closing in Jan 2016, rehab expenses in Dec 2015
I'm in a bit of a unique situation that I'm sure others have been in, but is new to me:I am under contract to close on a new rental property in early January 2016. The terms of my purchase contract stipulate that I am...
Davey Craig
Looking to add a new member to LLC?
I'm looking to add a Canadian as a member to my LLC (registered in Arizona) and give him 50% owernship. I know I need to file a form L015 "Articles of Amendment" which will add him as a member with the Arizona's corpo...
Marco Morkous
Are tax deed sale homes usually owned outright?
I guess my question is if you buys tax deed sale or tax lien, is the property yours after paying the bid amount or do you assume the mortgage as well?
Stone G.
Analyze this potential Mulifamily Deal
This is a 4-unit multifamily complex, the owner who lived in one of the units passed in October and the daughter is now selling it. From the pictures it looks like 3 of the units are in good shape, the owner’s unit ju...
Stanley E.
Qualifying for a loan to my self-directed IRA
Hi BP. I own a SFR through my self-directed retirement account that rents for $600/mnth. I want to pre-qualify for a loan to my self-directed retirement account to get ready and purchase my next SFR. What would be the...
Judy Lintus
Next BP Summit?
Next Summit (my ideas because I want it closer to me) Today is 4 Sep 2015Main BP Summit: wherever BP is holding itAll other sub-summits: example – the other 49 states each have a state summit with a live feed to t...