Mike Miller
Capital gains with intention to rent?
Hello BP,So here is my situation:I bought a REO in January 2019 with the intention of renting it out for a little over a year and then selling it. Long story short, my tenants only lasted from February till June and t...
Michael Veloso
Using FHA for non-owner occupied
Good Afternoon fellow BPers, I am considering using FHA to purchase a Duplex in my area but I have no intentions of living there as I already own a home free and clear. I have the reserves to put down 20% but ideall...
James H.
1031 exchange newly purchased property
BP fam, quick question, I have owned a single fam property for 30 days. I paid $24500 cash and but $10k in repairs and was intending to rent but I have found a larger rental opportunity. Can I 1031 exchange it? I have...
Jason Carter
can I keep 1031 intact with this structure
Hello, I am looking to buy a tear down or some land with my 1031. I would like to build 2-4 units on the land and keep 1 as a rental. would this keep my 1031 intact? Thanks in advance.
Abdenour Achab
Should I expense or capitalize post acquisition eviction costs
I acquired a house in September 2010. I evicted the previous owner in December 2010. I paid the eviction costs in January 2011. I listed the house for sale in March 2011. I expect to sell the house in 2012.
The house...
Chris Claro
1031 guidance for an unsual situation
Hi Guys, First post on here!I sold a warehouse that I owned since 2011 this January and did an exchange carrying over $1m into another commercial property purchase price $1.5m.Im currently submitting plans to the city...
Tyler Divine
*Tax Pro Question* One year clock on new home build?
Quick hypothetical question for Tax Pro's out there:If you have purchased a lot to build a home on, when does the one-year clock start to switch from short term to long term capital gains?Does it start when land was a...
Account Closed
Representing yourself as the buyer
Is this ethical or even legal? Will it go under fraud in the inducement? And doesnt this go against the 'complete tranparancy' rule https://www.youtube.com/watch?v=7AhXJ2UKUOo Has anyone ever lost a deal by telling th...
Allen Lopez
Would I be committing mortgage fraud?
So If I purchase a home as my primary residence with all 100% honest intent to live in it. Mortgage laws say that I intent to inhabit the property as my primary residence. However, what if I have to relocate to anothe...
Nat C.
1031 exchange requirements
I have an upcoming property sale and I was planning to do a 1031 exchange with it.The property being sold was a development project, which I was never able to finish. The property has never been rented during my cours...