Emiton Alves
What to look for in insurance policy in Providence, RI?
Hello all,
I am purchasing a multifamily property in Providence, RI. I have reached out to an insurance broker as well as gathering a few quotes from big name insurance companies. Would anyone have advice as to what ...
Account Closed
25,000 deduction limitations
ok trying to figure out the limitations on the up to 25,000 loss on rental properties. So let’s say married and over 150,000 in annual income. Does that automatically mean I can’t take a lose at all and any loses ro...
Matt Slease
Insurance for rental property
About to close on my first rental property (SFH)! Do I need any special insurance other than homeowner's insurance to cover my rental? Should I look into a separate umbrella policy to protect myself as it will not b...
Heidi Ann Faller
Negative AGI from rental properties - how to carryforward and use
In 2021 I had overall negative AGI on my personal return due to losses on rental properties. I had no tax liability in 2022 and now here in 2023 I do. How/ where do I utilize that prior loss? Is it an NOL on Schedule ...
Mike Holt
Things to set up before closing on first rental property?
I'm working toward buying my first rental property and I was wondering what were some things that people recommend getting set up prior to closing?For example: Should I get a business dedicated bank account and credit...
Zenas Underwood
Owner Occupied 4 Unit Plex Insurance
Need insurance on an owner occupied 4 unit property. I am very confused on what coverages I need. I have received quotes with yearly premiums ranging from $1600 - $4500. Each quote that I have received is structured d...
Joel Hudspeth
Mobile Home Park Write-Offs
My wife and I purchased a park in Idaho last Jan. There are 31 park owned homes and 14 renter owned homes. We have done quite a bit of work to the park owned homes in the tune of about 45K. This would be new roofs, f...
Faye R.
Wildfire wiped out 9 rentals. Now what?
I filed claims this morning. (Chubb and Nationwide) Curious to hear from others who have been through something similar. Did you hire someone to represent you to insurance company? If so, at what point and was it hel...
Joe Splitrock
Tax implications of only rental income (loss)
I currently have W2 income and rental property income. My rental properties, between expenses, depreciation and mortgage interest, amount to loss on my taxes. I am able to deduct that loss from my W2 income, since I a...
Roy Mitle
Sheltering k1 gain with rental loss
I am not a real estate professional and my income is highest tax bracket. I owe a rental that has loss every year. If I invest in a real estate LLC partnership as a limited partner and get k1 income can I balance the...