Michael Andrews
Reduced rent in exchange for lawn care
I am under contract on my first property, a 12 unit that is home to many retires and I was looking at ways to cut costs right off the bat and the dollar amount for lawn care sticks out like a sore thumb. Currently th...
Jenny Seaborn
Quicken Rental Management VS. Quickbooks
What is the better software for managing rental houses. Quicken Rental Management or Quickbooks Pro 2016. I did see there is a small forum on this, but I still cannot make a decision. Any further help on this would be...
Mason Jeffries
Do I shell out for a washer and dryer?
So I’ve got a rental unit that has in-unit laundry hookups which is great. But only enough room for a stackable washer/dryer. Based on my own survey, most renters own the more common side-by-side(if they own any at al...
Troy Pauls
Tracking Expense for Real Estate Business Before Business Account
Hello All, I have been working on my real estate business for the last year. However I have not had a business account and have been using my personal funds and Amex for my expenses. So I need help understanding how t...
Julio Gonzalez
Deductible Repairs vs. Capital Expenditures
A capital expenditure is money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment. This would include architectural fees, new equipment, cost of protec...
Account Closed
Owner Occupied Duplex Renovations - Tax Deductions?
I recently bought a duplex, and I am living in one side while the other side is rented out to a long term tenant. While I am living in one side I am doing some renovation projects on the side I occupy: complete bathr...
Karl Kauper
Laundry Equipment - Cleveland, Ohio
Just curious if there's a consensus: Is it better to own or lease your laundry equipment in the Cleveland, Ohio area (or any area)? My PM is recommending we get rid of our coin-operated laundry machines and replace th...
John Watson
Allocating common deductions when you own multiple properties
When I have a common expense such as buying a tool (i.e. a lawn mover) that I use for multiple properties, how do I allocate the deductible expense to the multiple properties I own? Based on net rental income?
Brian Petty
Tools purchased to flip = expense?
Quick question for the experts. I am planning to purchase a fix and flip property and I always buy a couple of new tools in the process. Mainly because I have a tool buying problem...anyway. my question is if I had to...
Cara Lonsdale
Depreciation - What the heck??!
A few questions...........To what extend does depreciation really affect a person's taxes/capital gains on a property when it is sold?Does it benefit or harm a person to claim LITTLE TO NO depreciation each year on a ...