Hello, BP land!I've just purchased my first long term rental and am looking at next steps.  I used a HELOC on my primary home to finance the down payment for this first property.  I am considering a fix-n-flip next to...

I have 4 mortgages where I am paying approx. $35k per year in interest. This obviously reduces my tax burden. With other deductions, I pay no taxes at all. I have the funds to pay off these mortgages.  Would it be wis...

Good morning! I’ll be closing on my first rental property in a few weeks. It’s an owner financed deal and I’m curious to how most people pay the insurance premiums and taxes. Do you find a 3rd party escrow company and...

Hello. I think I’m in a tricky tax question and before I ask someone I wanted to get an insight from members. I refinanced an investment house into a two partner llc which I am one member. We received money and sits i...

Hi everybody,
I am a new investor and just bought my second home on Dec 1 2023. In the closing costs I received one months rent along with tax rebates for the portion that the seller owned the home. I am not collecti...

Do I have to pay taxes on refi money?

In this situation, $60,250 has been collected in rents over a 12-year period ($38,000 net), yet I cannot tell who, if anyone has a reporting or tax liability for the rents collected, or when their liability, if any, w...

I have an S-corp that rehabs and I own a few rental properties personally.  I turn over my Quickbooks for the S-corp and a spreadsheet for the personal stuff.  Its pretty much fill in the blanks for my tax returns.  W...

I just sell my fha property which i own for 1 yr and six month, just wonder how much tax to pay or do i have too. I want to use the profit as down deposit on two rehab property.

We have rented our (formerly primary residence) out for the last 7 years.  We did not intend to sell it, but recently found a nice duplex in the path of progress (lots of potential), and have decided to sell the singl...