Eric Taylor
LLC owned my husband and wife tax implications
My wife and I are forming an LLC to hold real estate we use for rentals. We live in PA which is an "equitable distribution” state. Should we own the LCC 50/50 or have one of us just own 100%? We are unclear if ther...
Grace Woods
City Restrictions on Short Term Rentals - Tax Implications
BP Team,
My husband and I are considering buying a vacation rental in Manzanita OR where licenses for short term rentals are restricted. The typical license wait list time is 6-12 months. We are ok with taking that t...
Karolina Powell
Landlord policy doesn't cover animals - implications on ESAs
I have a commercial Landlord's policy through Berkshire Hathaway Homestate Companies. It specifically has an exclusion for anything that happens as a result of animals. I'm trying to figure out if I can get some sor...
Greg D.
New Porch Tax Implications (expense,capital,partial disposition)
I just had a new 3 story porch installed on a 4-unit residential building for $18k. This included the cost of demolition / disposal of the old one and construction / materials of the new one.1. Can I expense the cost...
Jinyu Shao
Tax Implications of Primary Residence vs Investment Property
Hi all, I own a duplex in Queens and our family both live and rent the property. My family is planning to move out of the neighborhood and rent out the entire building.
I'm unsure whether the house will become an ...
Pratik P.
Implications of getting licensed in CA and wholesaling
Hi everyone,I've recently been considering getting licensed in the state of CA to help my wholesaling business in the following ways.1. Access to better comps than what zillow and redfin provide. Which means more accu...
Jon Ostojic
18 units on multiple parcels. Lending/valuation implications?
What are the implications of separate tax parcels? I have a lead on 4 4plexes next to each other, each is on its own parcel. The owner wants to sell their entire portfolio including those 16 units, and an additional d...
Eric Stewart
Property Ownership, Tax Implications, and Family Business Collaboration
My brother and I own a property together. It is currently in my name but will go into our LLC eventually. He is a GC and does the work needed on the property and owns a masonry business as well. We had some problems w...
Al Brennan
North/South Carolina rental unit income tax implications.
Hi folks,I was looking at a condo in South Carolina tonight with my realtor when she told me that it probably wasn`t worth my while financially to buy a S.C. property to rent out while I live in N.C. because the tax I...
Kumar Gaurav
State tax credit implications upon sale and relocation
HelloI am planning to sell my rental in nj and permanently relocate to ca by July 2024. in current year 2023 I am still a nj resident but will very likely end up being a ca resident in 2024 due to relocation.If I sel...