Eric P.
Minimum Insurance Required?
Hello BP!I am currently in the process of buying my first single family rental. I am wondering what is the minimum insurance coverage required in the state of GA? I have gotten a quote but not sure what I'm looking at...
Steve S.
Any luck replacing an a/c coil?
Tenant called saying no cold air. A/c is about beyond its life. On my home I've always replaced the whole unit. This time I opted to replace the coil only. A/c is working great now. Question is how long will the other...
Chris Ready
Tax deductions before owning an investment property
Hi all,New Real Estate investor here in the process of starting out.I know that once I own a property any operating expenses, travel etc. are tax deductible but does anyone have any insight into collecting receipts fo...
Sri S.
Are Home Equity loans tax deductible if used to buy another investment property
Hi, I have an investment property A where I built a good amount of equity. I want to buy an investment property B using the equity built in property A. Is that legal to use for another property? How does the tax-ded...
Puja Devi
Tax strategies on first rental property
Hi all - wanted your input on the following. I closed on my first OOS rental property 12/31/2021 (signed paperwork with notary) but the funds didn't settle until the new year. So on the CD, closing date is still 12/31...
Michael Stoltzfus
What tax benefits can I get?
I currently own 3 properties (all in my name) and would like to know the benefits of starting a corporation.
I also want to make sure I'm getting all the tax benefits possible. Any accountant or bookkeeper anyone wo...
Ryan Heywood
Purchasing home as a residence or investment?
I currently have a two unit property under contract, initially it looked as if it was going to be classed as an investment property with 15% down. Our lender has now informed us that since it is multi unit it will nee...
Paul Klei
Where do I get/how do I create a term sheet?
Situation: The first floor of the property is occupied by a business owned by the seller. They want to remain as tenants. They "do not need to sell", so I suggested a master lease with an option. Rather than an option...
Account Closed
I disagree with my accountant on interpretation of the de minimis
I dove into the IRS code today, and I think I have an airtight argument that the de minimis rule applies not only to personal property like refrigerators and computers, but also to materials and supplies used in impro...
Jay Elvin
Using LLC when filing Married Separately
Hi everyone, I own two rentals in my personal name. My wife and I file married separately due to her student loans. Her loans are repaid based off her income and her loans are forgiven in 10 years due to the non-pro...