Do both spouses need to obtain real estate professional status to receive the tax benefit?

Hypothetical question: A married couple, Jim and Maria. Maria is a professional who earns $750,000/yr in W2 income. Jim takes notice, and thinks to himself: maybe I should quit my job to become a real estate professio...

Hello All!My question is regarding the capital gains write off for an owner occupied residence. I understand that it is 500k for a married couple. My wife and I have lived in this residence for 1.5 years but have just...

Are there any issues anyone has experienced with renting to a young married couple.  Guy is 24 and girl is 20. Guy has an associate's degree and works two jobs. Girl works two jobs. Mom would like to move in with them...

Hello,I am in the process of house hunting with my fiancé. Originally, I really wanted to purchase a multi family so we could live in one unit and rent the others out. I have come to realize that she really would pref...

Hi, BP!I just joined after having read numerous articles and forums on here for some time now, and now I am planning my next move. Here's my situation: bought my first property - a condo - in the north Seattle area as...

Hello Everyone,I need your input on a decision that I'm struggling with.  We were able to get a great deal on our current primary residence back in 2009.  Initially we bought it to flip it but after renovating and mar...

Hi all,I’m buying a new house. If I keep my existing home as a rental, how long must I hold onto it until I can sell it and use the profits in a 1031 exchange?Thanks!

Hi everyone. I’ve been on BP a little under a year now just absorbing the knowledge through the many articles and blogs available. I’ve also been reading books on REI like “Crushing It in Real Estate and  Commercial i...

I live in Texas, can I Quitclaim ownership of my home to my son without problems before I get married to keep it out of a new marriage?Would it cause problems for my son?Also, I still have a mortgage, will that be a p...