Sabrina Hall
Michigan MHP Licensing Rules
I am a new investor looking to get started with a mobile home park. I have been researching what it would take to purchase an existing park in SW Michigan. Could someone help clarify the licensing rules in Michigan fo...
Sam Erickson
Anybody in the car business? Looking for a Ford Flex
Hey Everyone,So I've been on the hunt for a 2009-2010 Ford Flex for my wife to take the kids around in. So far I've been striking out a bit.I'm looking to pay less than $10,000, ideally something in the $6500-7500 ra...
Candace McCutcheon
Cash or Accrual Accounting?
I have read from several sources that RE investors MUST use the cash accounting method. Our CPA says this is not true. If the state is important, we are in SC. Can anyone confirm this one way or another? To give i...
Josh Gregory
Avoiding capital gains through buying rentals?
I buy and flip houses as well as by rentals throughout the year. Currently, I am set up under two separate LLCs for protecting my rentals in case I get sued over a flip. However, I have been thinking… If I flip house...
Terry Drake
Failure to Transfer Title within 30 days and the penalties
I live in Florida and was wondering why kind of penalties I'm facing. I date on my purchase agreement (when I bought the home from the sellers) is dated 4-22-10. I didn't transfer title to my name to avoid paying th...
Mic Nguyen
Should I move all properties to an S corp
I have 5 properties title to my personal name and 1 title to my real estate company which is an S corp. My CPA says to keep it as is, but didnt really give me a reason why. My goal is to push all the income to the cor...
Aaron McCarty
commercial property management
I've been managing my own residential properties as well as a few for others and I've recently been approached to provide my services for some commercial property. I'm really new at this and was wondering if anyone ca...
Account Closed
Real Estate Professional or Not?
Hello,My wife and I finished building our first rental this year and it is in service:) I am talking with a new cpa about the upcoming tax season and when I brought up the idea of claiming my wife as a real estate pr...
Michael Plaks
Sch C reporting of installment sales for residential lot dealers
I usually answer, but now is my turn to ask.Dealers of residential lots are allowed to use installment sale method. If said dealer operates as an S-corp or partnership - reporting is fairly straightforward. But what i...
Jason Munger
Limit to how many properties you can flip per year?
A friend of mine said you can only flip a certain number of homes per year without being a licensed contractor. Similar to how you can only sell X number of cars per year without being a dealer. I've NEVER heard of ...