James Erickson
Should I reimburse tenant for this?
A new tenant had a small water leak in her apartment due to a clogged drain. I cleaned up the water, which did not damage her belongings since it was minor. I had to shut the water off to the apartment since, at the t...
Joseph Miller
Deciding what market to invest in (out of state)
I have about 60K saved and am ready for my first investment out of state (I live in San Diego, CA). I've read the books and done the research to know what markets work for my goals, but mentally I find myself nit pick...
Jeremy Collins
Needing Advice
I am currently looking at a Strip Center that has 6 units (Retail, Restaurant, and a bar) They are asking $875,000, however the property needs some work so I only want to pay around $700,000 for it. Some of the repai...
Brett Fulgoni
Capital gains exemption new construction primary residence
Hello, we purchased a lot 2 years ago, and are building our primary residence. We started construction 1 year ago and almost complete. We have been living on the property since construction started. When does the cloc...
Ryan Sauer
First time landlord as of Friday. Tax questions. Any tips?
Hello everyone,I became a landlord for the first time ever on Friday. My property is a 4-plex in Welland, all units 3 bedroom, 1 bathroom and a basement. Each unit is fully rented, so I provided each tenant with a new...
Clay W.
Determining Property Cost versus Land Basis
Would appreciate clarification on best determining my dwelling versus land value for depreciation:- Purchased first duplex - Early April 2018 - $369,000 - California- New Tax Assessment received assumes $143,541...
Emiel Barbosa
Home Inspection Questions
Hello everyone and Happy 4th!!!I am in the process of buying my first property and have an upcoming inspection on Thursday. I was wondering what should I keep an eye out for, or what I should ask about during the proc...
Brandon Heimsoth
Deduction for Tools
I started my first rehab last year and now I'm trying to understand the taxes part of things. I ended up buying a lot of tools during the rehab. I assume that falls under the "Supplies" line under schedule E but the...
Adam Schellhammer
Seller Financing costs
Hi All,I have a question regarding seller financing costs. I am attempting to utilize seller financing for the first time to pick up a duplex. The seller is open to the idea but I am unsure of how the process plays ...
Greg B.
First Commercial
My REI experience is with residential properties. I have been in the game for about 5 years and am looking at stepping into commercial. I am looking into a 20+ unit property in my area. We have reached a preliminar...