Sam Thompson
depreciation expenses for personally used vacation home
After only using our rental property for 14 days or less for the last 10 years, this year we will be using it quite a bit for personal use which will reduce the amount of expenses we can claimfor the property on Sched...
Blake Cougle
How to transfer property from relative without capital gains
My mom is turning 90 this month and is no longer interested in a 7 unit building. I want to take it over but the capital gains would be 50k. Upon her death it passes without CG and transfers with a $0 basis. I want t...
Michael Baum
Thanks to the mods!
So I just wanted to do a shout out to the mods who keep cleaning up the forums. They have stepped up to help keep it free of various folks looking to sell their services.I have run afoul of the mods from time to time ...
Amir Navabpour
What costs can I add to my cost basis when selling a property?
Trying to decide if its worth the 1k fee, and the hassle of beating the 45 day window to find a replacement property that the 1031 rules call for....Bought the property for 112k, and it will sell for 148kI am creditin...
Logan M.
Vetting Felons, Drug Addicts, Sex Offenders and Poor Credit/No Credit
It is inevitable that when you are in the MHP/Affordable Housing space you will have applicants who are Felons, Drug Addicts, Sex Offenders and have poor credit.Here is how I handle each of them:Felonies: It depends o...
Jesse Smith
Opportunity Zone Benefit Look Back Period? Tax help?
I'm probably out of luck here, but I'll ask anyway. On October 4, 2017, I sold $75,000 of stock ($11,500 capital gains) to invest in two local properties. When the Tax Cuts and Jobs Act identified Qualified Opportun...
Brannon Hamby
Sold a property, 1031 or pay the tax and shop more given mkt soft
Just sold an out of state property and shopping now to move those funds ($210K) locally (coastal South East market). I had planned to do 1031 but looking at average to below average deals. With the market trending...
Geo Dan
Rent by the room / boarding house in NoVa?
I'm looking to buy a property to rent by the room, preferably in Fairfax County. I see that Fairfax County has overcrowding restrictions, such as no more than 4 unrelated occupants per house. Fairfax County also requi...
Garrett Brown
Turning a duplex into single rental rooms
Does anyone have experience of renting out individual rooms on a long term basis out of a duplex/triplex? Basically, I've come across a property that is a duplex with 4 bedrooms/2 baths/kitchen in each. The current ow...
Tyler Brown
Trying to wrap my head around tax implications
I'll preface this by saying I've already taken these questions to three separate professional accountants. One straight up told me he has no clue, and the other two gave conflicting answers. So hopefully the interne...