Igor Balakhnin
Do you pay capitol gains tax on owner occupied duplex at sale?
Hi,as far i was aware this whole time when you owner occupy your duplex one side and rent the other for 2yrs and you sell it within 5yr period there is no capitol gains tax. Is that statement true? I'm getting a lot o...
Nathan Emmert
Non-Refundable Security Deposit
The rental I purchased last week had fairly significant security deposits in place, a portion of which was labeled as "non-refundable".
Am I correct to assume that's essentially income?
If so, from a tax perspective...
Manuel Salce
Section 8 screening questions
@Martin Morales and I are renting out a protperty in Allentown, Pennsylvania. I’m getting a ton of applicants who have section 8 vouchers. From my understanding the government pays a portion of their voucher and the t...
Maria Teo
Drafting a parking lease - out of state owner
I'm considering renting out a portion of my undeveloped land to a cafe next door to use as parking. I'm an out of state owner of a vacant parcel in Hawaii. The restaurant next door would like to rent a portion for p...
Joseph Russo
Renting through my LLC and getting the deductions
Hi Everyone,
I am considering using my LLC to rent an apartment where I would conduct all of the LLC's business. In doing so I know I'd be able to deduct rent, water heat, etc. However, the question comes in to play ...
Justin Linville
City trying to acquire part of my land for road improvements.
I was recently contacted by a third party hired by the city of Sherwood in Arkansas. The city is planning road improvements due to flooding during heavy rain storms. They want to acquire 1,251 sq/ft of land to the fro...
Ragan Manning
Best options for selling 25 acres
I'm working with someone who is trying to sell their land with a pond (no structure). They are hoping a commercial company will come out and buy it since the location is right outside Houston, Texas on 25 acres. The s...
Sam Burnoski
Real Estate School of Illinois for Broker Prelicense Coursework
Hello,I am looking to obtain my Illinois broker's license and was wondering if anyone has done the online pre-licensing courses (75 and 15 hour) through the Real Estate School of Illinois.I am going to be taking onlin...
Ken Hughes
Insurance questions
We are closing our first buy and hold property and need some insurance advice. The property is held by an LLC in Florida and we need suggestions as to which insurance companies are best to work with as landlords for p...
Ellie Narie
Tax assessed value or appraisal value to calculate depreciation?
I just bought a house-hack 4plex in 2020. I don't have any other rentals. Filing taxes now, so just had a few questions.
1. When calculating depreciation, I heard you're supposed to use the assessed value based on t...