Justin Glowa
Tax information for investor with no rental income yet.
I purchased a Single - Family home with the intention of turning it into a househack. The home has been registered as my primary residence. I have been working on many renovations since, but do not have any rental in...
John Lopez
Offsetting profits from a property flip
Greetings, I purchased a home in Feb that I was intending to renovate and add to my existing buy and hold portfolio. The renovation is near completion, and I was approached by someone that was interested in buying. T...
Kevin Dubina
Can vacant land be 1031 exchanged for vacation home?
I understand that "like kind" is extremely generous, so trading vacant land for real estate shouldn't be a problem. But is a "vacation home" that gets rented out on VRBO or the like when not being used by owner consid...
Mike Rash
1031 - Substantial Improvement before selling
I have a 1 FAMILY RENTAL property that I have been renting out for 2 years.My cost basis for the property is 500k. I would like to do substantial improvement to the property by building additionand increasing square ...
Shaun T.
Tax deductions for flips and rentals spanning two years
Hi all ... I have several flips that I purchased in 2022 and will get executed in 2023. Same with rentals where I purchased in 2021 and fixed them up and started renting them in 2022. My questions are how do I accou...
Jacob Temple
1031 exchange question ❓
If you are flipping a house and it doesn't sell right away, so you decide to rent it out. How long does it have to be a rental until you can 1031 exchange it?
Liam Martin Ruane
Primary residence or investment property
So my partner and I are buying our first house which we aim to live in for a small portion before we leave to complete our masters in Spain for 1 year. We would be living in the property for either a bit over a year o...
Anna Watkins
Tax implications of renovating a long-term rental to sell??
I am a small-time landlord with 6 SFH rentals, all of which were purchased to be rentals (retirement income - I spend an inordinate time worrying about retirement lately) and all have been rented since purchase. I ...
Jesse Stemle
How can I avoid paying capital gains tax on my live-in flip?
Hey Everyone!I bought an old beat up house just outside of Louisville, KY in August 2019 for $120,000 with the intentions of fixing it up while living there as I am just out of college and was looking for a place to l...
Erin P.
Purchasing and obtaining financing for a REO purchase - in which type of entity?
Hello BP community. I’m hoping someone can help me with a situation I’m facing.
I am purchasing a REO property as a fix and flip project. It is a joint venture with another investor and we are scheduled to cl...