Shannon Erickson
51% Owner Occupied Rules- 49% Renter- HOA Condo Rules
Hello all!My condo building HOA has a rule about 51% of the building needing to be owner occupied, leaving only 49% to be renter occupied. This is managed by the Board of Directors with the HOA- other homeowners withi...
Brandon Handel
Do you use commercial loans?
Just curious how many of you choose to finance through commercial loans on small properties (i'm thinking 4plex) that a conventional loan can finance. I talked to a commercial banker recently and he told me everyone c...
Jonathan G.
50% rule ? True or False?
I’m reading the posts on this website discussing the 50% rule. We own few Class C Apartments Complexes, anywhere between 36 to 100 units. My management Company manages around 2,500 units. I have to say that based on o...
Bellman Tumasang
How selective are you allowed to be with tenants?
I know when screening tenants you can’t choose based on race, gender, disability etc. Can you choose based on income and job? Are these legal discrimination because you can argue some are more secure and nearer etc? F...
Paul Hillard
LTV with no money down??
If a commercial property is appraised for more than $800K but the sale price is $600K for me will the bank finance $600K?Thanks
Grace Yang
Was I ripped off by my property management?
2 weeks ago, there was water leak in my rental in Austin. Last week, the property management company told me they have paid for me.To plumber who found the leak and stop it: $3500To remedy: $4700It is a 1700 sqft one ...
Account Closed
Taxing a flip as a rental by leasing the unit prior to sell?
At what point is it determined, in the eyes of the IRS, how to tax a flip? For example, if we buy a property with or without the intent of renting it out, and after rehab we place a tenant in the unit, can we sell it ...
Pat L.
Crazy Tax deductions allowed & disallowed
I got these from our tax prep guy.....
Crazy Tax Deductions that the IRS Allowed:
1. Parents put their child in clarinet lessons and argued that it would correct the child’s overbite. The IRS agreed and allowed them...
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Analysis/ Opinion Needed
I don't expect anyone to have the right answer because I know there are so many unknown variables involved but....
Say there is an a condo association made up of six 40 yr old high-rises. Within the last year there w...
Account Closed
Assessed Value
Does your county assessor assess value at purchase price or ARV?
In my state the assessed value at purchase determines the property taxes. I'm trying to refine a spreadsheet I use and want to make it as accurate as ...