Mike R.
valuation of a 2-4 unit property -- do rents count at all?
Hi all,I know residential properties are valued using comparable sales. But do rents come into play at all? Say you have two triplexes that are identical in most every respect, except one rents for $500 per unit and t...
Sarah Lorenz
Can you count income from first o.o. property to qualify for 2nd?
I'd like to help relatives with a moderate income buy a duplex in order to live rent-free, probably with a Home Ready mortgage that allows the rent in the 2nd unit to count toward qualifying. I'm wondering if they cou...
Seb Ko
Does a long term lease from previous year count to 7 day average?
Hi BP folks, I purchased a 2 unit property in 2021 which had one unit with a lease going through to June 2022. To calculate the 7 day maximum STR requirement for bonus depreciation, do I include those 6 months from th...
Donald Kellogg
Rehab funds wrapped in a HM loan are they counted as a expense?
I flipped a home in Arizona and wrapped 60K rehab funds in the HM loan. Is this a expense or is it counted as a gain at close? If it is a expanse what IRS publication addresses this item? I count cash in and cash out...
Mike Barone
When using a HELO do you count it when calculating Cash on Cash
I am looking at purchasing a duplex with a HELOC. When calculating cash on cash return would you use the whole amount or 0 cash invested since its a loan technically?Here is the scenario:Option 1Purchase 140K paid cas...
Khadijah Celestine
Does living in a rent-to-own count as an real estate interest?
If I'm living in a house under a rent-to-own contract does it count as an interest in real estate? Specifically for the purpose of qualifying as a first time home buyer, assuming the qualifier is "does not hold an int...
Brent Geubtner
Does income from a house hack count towards your debt to income ratio?
I've been renting out a bedroom in my primary residence since the start of 2023. I'm looking to get a loan for my first non-owner occupied rental property but my current lender is telling me my debt to income ratio is...
Samuel Joseph Hamilton
Which hours count for the 750 required to be a real estate professional?
So I have an acquaintance that has a substantial amount of real estate (managed by a property manager), and they have a lot of ordinary income from various sources, resulting in a high income tax each year. This frien...
Sam Doyle
Rental property in schedule E counting against me w/ conventional loan, any options?
Hi all,
Have a weird situation where I recently purchased a rental property 1 year ago and am looking for a new loan on a new property. I have great credit and W2 income to purchase a property before even adding my r...
Jeff G.
How do I Get a Basment to Count Towards Square Footage in CT?
I'm looking at a house right now that has a partially finished basement but it's clear that the square footage in the basement isn't counted towards the total square footage of the house. If I buy it, how do I change ...