Christian Thompson
Roll1031 Rental into my Former Primary Residence that I now rent?
Scenario:Sell a rental I've held for many years in an LLC. Net $250K1031 the $250K into my former primary residence which has been a rental for the past year, but lived in 2 of the past 5 as my primary res. I hold t...
Drew Moyer
Loan Question on Property
Hey Guys, my names Drew I’m 23 years old. I currently am working full time and have a credit score of about 750 with 4-5 years of Credit history. I have always wanted to get into real estate, but my job has the possib...
Elon Kotlar
Adult child and low down payment primary resident loans
Does anyone have advice on whether the following scenario is feasible and/or how to make it possible.My 18 year old is working part time and soon starting college. I want to buy him a home (1-4 unit) which would be hi...
Amjad Farooq
Reporting New Property to the IRS
Hi everyone,I purchased a house with cash for $100K in 2014. I spent another $50K to remodel this house. Do I need to report the following to the IRS on my 2014 tax returns?:(1) Purchase of this house for $100K(2) Ano...
James Craft
1031 - 121 - Depreciation Recapture
I have a single family residence that I initially purchased as a primary residence, then rented out for some years, and now use as a primary residence again. During the period as a rental, I depreciated approximately...
Chris Willson
Question on future rental income on mortgage application
Hi Everyone,I am thinking of purchasing my first home and have a question about mortgage applications. I have excellent credit (>800), however no history of a mortgage. I had a loan out on a car that was paid off i...
Nicholas Hamel
1031 Exchange, Section 121, any other tax strategies?
I purchased a single family in May '17 as my primary residence shortly before listening to BP podcasts and researching real estate. While I love the home, I have since realized my mistake and shudder when I think of t...
Tara G.
Move Co to Ca: Sell CO rental first b4 CA taxes it?CPA/RE lawyer?
I own a rental in CO (over 5 years definitely classified as 'investment property'). I may be moving to CA soon.I have plans to sell the CO rental in the next few months.From what I have read, it appears that it's bet...
Luke Berry
Tricky Lending Situation
I house hacked my Primary Residence for $580,000.00 In January of 2021 ($3,000/month PITI, 548k Principal balance remaining). I originally thought that I could qualify for the loan by myself because my 3 roommates wer...
Eric F.
WA -> Idaho Investing - Property & Income Tax Impact?
I live in Washington near the border to Idaho. I'm interested in investing in Idaho, but I have zero experience with Idaho taxes (or state income tax at all for that matter).Questions:I've heard that property taxes i...