Tawny Bloom
Funding a family member's purchase
I might entering new territory and need some guidance. My husband and I might be the primary lender to my mom to help her purchase a property as her primary residence. We want this to be a formal loan and make sure...
Scott R.
Passive income negative, do I even bother rental income taxes?
Properties generated $110K last year, I stopped at $120K losses before even going into expenses. I don't want to dig through expenses and itemize all that crap since I'm already at no income. So do I even need to file...
Donald Cooley
Help need advice in Michigan
Hey BPers,Need some help here. I have a house under contract in New Baltimore in connection with a hml. They were supposed find the buyer through their network, but due to the fees and upfront costs they can't seem to...
Wynn Williams
Landlord Insurance Rates
I’ve got a few lines out on landlord insurance for a home we’re closing on at the end of the month. Does $3,200 sound right? YikesHere are the details:$265K purchase price, single story, 1026 square feet, built in 1942.
John Morgan
Anyone ever get audited by the IRS?
Just curious if anyone has ever got red flagged or a random audit from the IRS for their rental investments. I haven’t yet, but wondered what that experience was like. I keep good records, but hope I never have to go ...
David B.
Flipping better than holding for fast growth
Hi all,I just wanted to get your opinions on flipping to grow faster vs holding . This year I've really doubled down on investing and have about 7 rehabs I'm currently doing. Three of them are flips, while the others ...
Lorin K.
Law about holding and not giving deposit before move in of tenant
I live in a very expensive area "I rent" where tear downs go for a million dollars. I made a deposit for a place and then, 2-3 days later backed out on the 10th of the month. I backed out of the rental agreement and t...
Henry Lazerow
Recommendation for insurance property in LLC?
I have a lower priced 4 unit ($265k value) that is held in an LLC and am currently paying $2200 a year on it. Does this seem reasonable ideally I could insure it for value vs rebuild cost? It's in midwest where insura...
Vlad Popovici
Can you split reno tax deductions across several years? (Canada)
Hi everyone,I have a question specifically about claiming expenses (tax deductions) on "major" renovations/repairs for rental properties, specifically in Canada (but perhaps US has a similar system).As far as I'm awar...
Norman Kindon
Tax lien certificate sale
Hello All -Complicated tax lien certificate issue here & would appreciate any insight or help.Recently purchased 3 tax Lien certificates for properties in New Iberia, La, through the online auction. For each of t...