Hi, I had a tenant at a property who I had acquired with the property about 2 yrs ago. The tenants were living (for 8 yrs when I bought it) in the property with a month-to-month lease when I purchased it but had no de...

Hi everyone! Long time reader, first time poster. I found a property I'm interested in and I have some questions. The property is available via Sheriff Sale in Texas. While doing research, I found several "Notice ...

I am buying an old house built in 1953 that has problems. The house is slightly settling in the back and the plumbing is "iffy". It's basically a lemon and if I get an inspection performed, it will not pass. That bein...

Hey BP, I had a member contact me and ask my experience and any knowledge I could pass on. I decided to give a detailed breakdown and notes of both completed projects as well as some information on what I learned.If t...

And taxes!!I'm developing my strengths in estimating and budgeting, but I am so bad at keeping track of everything! Spending more time with my accountant trying to figure last year than I am working on any deals this ...

Hi fellow innovative strategy folks!

So I have this beautiful 10 acre piece of land in Surry County, NC. It's within Elkin top notch schools, and just over an hour from Charlotte!
It's on the stocked Mitchell river, ...

How do you make purchases and manage receipts for your rentals?

Hi,
I would like to know under what circumstances does one file for 8825 vx. Schedule E.

Also I just got a schedule E from a seller. However in the tax line of the form there is no entry. The profit is being shown w...

Newbie closing on my first property, how do I keep my rental income separate from my personal accounts if I don’t have an LLC and therefore can’t open a business account? Should I just open a separate checking account...