I know that you may deduct mortgage interest paid back to a loan, so I'm curious to know is the interest paid back 100% deductible or only a portion?

Hello.  I need advice.  I am selling one of my rentals that is wrapped in a note with 3 other properties.  I can either use the proceeds to pay off the entire note or do a 1031 tax exchange.  If I pay off my note, the...

I know everyone plans to win and due diligence is key to reducing loss in real estate. Either way there are times you will lose money, be it due to bad judgement, emotions, markets, under calculating repairs or over e...

Sorry for the stupid question but the property has a oil tank and has been heated via baseboard radiators and it has a chimney to allow for outside heat loss. I'm trying to decide if I should demo the chimney for the ...

If a property has negative cash flow at the end of the year do you get a deduction on your income taxes that are owed?

Say if you earned $30k from your job and you owe $1000 in income taxes but your property had a ne...

Hi Everyone,
I am a new investor looking to purchase a triplex in the Northeast Philadelphia area to live in as my primary residence, while also renting the additional 2 units out to tenants.When purchasing a multi-u...

Hello all:When a security deposit is received on a new long-term rental lease, I categorize that in my accounting system as "deposit", separate from rent. It isn't income, doesn't show as a gain, etc. When that same t...

HiI’m looking for a tax advisor or strategist who is familiar with NC taxes (this is where we’re located) and can help us lower our W2 taxes.We have one long term rental and another property closing soon. So we’re try...

Hi all I've found a FNMA owned home locally.  They've owned it since 2014.  It's the kind of house I've flipped successfully in the past,  but they are asking too much for the market.   I've never offered on a FNMA be...

Due to a bad window replacement and siding job back in 2016, water was been coming in around the south facing windows every bad rain storm (like once a week in the PNW). We tried caulking up the area but that doesn't ...