Hello BP community,
My wife and I purchased a duplex in a B class area about 1.5 yrs ago and inherited 3 adult tenants in one of the two units. This was my 1st property.
I live in one of the duplex units (my wife li...

Good evening BPers,I wanted to run my specific situation past the collective of you in hopes of some well thought out help. I'll give wavetops and hope to get some decent advice on moving forward.Situation: I'm a real...

I currently have a 1 bedroom/ 1 bath unit that the tenant stopped paying rent for after losing her job. I have notified her and talked to her about being late on rent and that it is a breach of the lease agreement.
W...

Opportunity zones can offer great tax incentives that encourage real estate investors to invest in underutilized and low-income communities. They have become even more popular recently so here are some of the most com...

Hi All,I have a rental property that I sold in 2018. I lived in the property for approximately 2 years, rented it approximately 1. My question is related to my adjusted basis on the home as this directly affects my re...

I had a question for the more seasoned of you.  I moved out of an condo after two years and prior to move in, many of the landlords items were there, including , old plants, some very old very used kitchen items in ba...

Hi everyone,I am attempting to setup my first LLC for my first flip (in Georgia).  In looking up the process I was presented with the option of using a registered agent for the LLC records.  My understanding is this w...

Hey BP -I’m DYI’ng my taxes this year through TurboTax and am stuck. Here’s some quick info on my situation:-I have a LLC- BRRRR’d one house last year- Using TurboTax to create K-1 for LLCWhen entering info into turbo...

Hello all,To start, I live in Michigan where your property is forfeited to the county after 2 years of delinquency. I've been analyzing some tax delinquency lists and I've found several properties that have delinquenc...

Just got finished reading the chapter on setting up legal entities in the Tax Strategies for the Savvy Real Estate Investor.  Are legal entities or LLCs needed when you acquire your first rental property or is this mo...