John Doyle
I have one property (duplex) - do I need accounting software?
We have had our duplex for one year now, and aren't looking to acquire any more properties.Maybe this is a dumb question, but do I need accounting software (Quickbooks, etc.) or can I just do our taxes with Turbo Tax ...
Wiley Hood
Are DIY cost segregations a good idea?
Recently, I've decided to do a cost segregation study on a new $490K property that I purchased this year. I came across a firm (KBKG) that offers a $400 DIY cost study (paying for a membership). I enter the informat...
Brandon Hicks
Bookkeeping Software for Syndication
What is everyone using to track all the info for syndication deals? General income and expenses and payouts to investors...all of it.
David Vander Pol
PM in Phoenix has software error.
I received an email from my PM in Phoenix that said, "On a recent routine audit we found an account code mistake within our software for your property" and "As a result, you have not been charged a management fee si...
Charles Baker
Cost segregation - SFR acquired in 2021 followed by full reno
Scenario: We acquired an SFR in the Southern California mountains in 2021. Over the past 15 months we've been doing major renovations. Work is basically complete. First STR guest has booked for the last week of 2022...
Bryce Henson
Tax Strategy - W2 Employee, Part Time Real Estate Investor
Hello all!What tax strategies can I utilize this year? I am a full-time W2 employee and part-time real estate investor in California. I invest locally and out of state in fix-and-flip and buy-and-hold properties. This...
Wes Mccullar
Suggested accounting software to track income & expenses for STR
Merry Christmas BP!!My wife and I just recently closed on our first STR in Destin Florida and are now in the process of getting all of our systems set up. One of the main systems we need feedback on the most is settin...
Amer Nassar
Cost segregation study on Residential condo rentals?
Hi all,Does anyone have any experience using companies like KBKG who offer cost segregator calculators and algorithm to determine condo cost segregation from empirical data? Are these reliable and more importantly saf...
Bryan T.
Preapproval... What if bank statements and tax return don't match
I have never purchased a home before so I am wondering if the conventional mortgage preapproval process is similar to an IRS audit. For the preapproval, what if bank statements and tax returns don't match? Do they che...
Bruce Wofford
Accounting Software for Vacation Rental
Our family here in the Kansas City metro just formed an LLC to purchase a vacation rental property (3BR, 3BA condo) in a Colorado resort area. For at least the immediate term, we will continue using the incumbent prop...