Kyle Burrows
Sole Proprietorship vs Partnership
Hi BP! My wife and I are purchasing our first rental property and looking to set up a DBA. After researching some information about sole proprietorships and partnerships, we are confused about the right approach. We l...
Lara Stuart
Help! Trying not to commingle inherited funds within my trust for new LLC doing PML
My father passed and his trust became irrevocable. My 2 siblings and I now have separate trusts derived from Dads (we all get a K-1). I want to use some of my inherited funds to start doing some PML and EMD but I do...
Daniel Guest
Rental income as business income?
Hi all,I have been growing my portfolio over the last 5 years and currently have a mixture of 5 rental properties, 1 flip in progress, and 1 single family house that I decided to cash out on the equity and sell. (unde...
Account Closed
Help Newbie with Finance / Tax Implications for Rental Property
Hello,
I am new to the rental property investment world, and was hoping to ask for some tips / guidance as I navigate this process. My main concern is around optimizing my finances (personal taxes), as well as making...
Thiag Sivalingam
Cost Segregation study?
Looking for advice - Does it make sense to do a cost segregation study on a property (and claim accelerated bonus depreciation) I bought this year considering the following? why/why not?
(I understand that I need t...
Steve K.
Are subject-to's considered assets?
Hello BP,I am currently submitting documentation for a cash-out refi on one of my properties per the "BRRRR" method and had a question:Should I put down a property I acquired subject-to as an asset? The title is in m...
Sean Smith
I own a 2 family w/ no mortgage and can’t get a Heloc
I own a 2 family out right that’s worth $300k. No mortgages. I also have zero personal debit besides a $400 credit card. Credit Karma says my score is 675. I recently open up a business for Electrical contracting and ...
Josh Dehmlow
?'s / referral for accountant in Kansas City, MO? (Im in CA)
Hello All : )I live in California and have several properties in Kansas City area. We Recently formed an LLC for the properties in Missouri and am in the process of transferring titles over to LLC. I was looking to c...
Brandon Heath
Does a W2 from your own corporation count?
Hello BP!!I always see comments and complaints about investors not receiving a standard job that they receive a W2 from. This of course makes it difficult to get conventional financing for their next deal. I currently...
Alan Martinez
Starting LLC in Indiana as out of state investor
I plan on buying a rental property in Indiana as an Illinois resident. I'm guessing I will need to create an LLC in Indiana?Anything else I should be aware of tax wise, etc?