Dev Penna
renting Section 8 property
I plan to buy and qualify a SFH for Section 8 rental. Once the SFH qualifies for Section 8, can I still rent it out to non-Section 8 tenants? In other words, should Section 8 property only accept Section 8 tenant? Tha...
Sali Armstrong
Assisted living rental
We took a risk and decided to rehab a commercial type property that is set up to be an assisted living facility. We have only rented out multi family in the past so leasing something commercial like this is out of our...
James N.
Avoiding taxable gain by living in property 2 of last 5 years
Hello BP,I have a condo I lived in for about 2 1/2 years as my primary residence, then I leased it out for about 2 1/2 years. I'm looking to sell and avoid taxable gain. I'm trying to determine exactly what day I have...
Cris Francis
How do I wholesale as a licensed agent?
I am a licensed realtor in Los Angeles and wanted to know if there were any requirements needed to follow being as I am licensed compared to someone who isnt?
If you have any advice on this please reach out!
Thanks.
Chris Perez
Tax Deductions: Repairs vs Improvements
Hi All!
Earlier this year I purchased a 4-unit property, and I'm currently living in one of the units. Over the past several months, I've invested about $30k into the units. I'm having trouble determining what exactl...
Ernesto Carozza
Quit claim Deed on FHA Loan
I am in the process of submitting an offer for a duplex. I am considering buying the property with an FHA multi family loan using 5% down. My question is can I quit claim deed the property to an LLC for liability/ ass...
Alicia Shaffer
Looking for Title Company in PA that is familiar with wholesaling
I am working in central PA (Williamsport area) and am having a hard time finding a title company that is familiar with wholesaling, double closings, etc. Any suggestions or recommendations would be great! A title com...
Gabby Cunidi
Exchange- Joint tenants to community tenants wros vesting change?
We are closing on our replacement properties of a 1031 Exchange. In the relinquished property our vesting was as joint tenants (we were young and newly wed and did not understand the differences). Many decades later...
Xuan Ni
Can Partnership LLC deduct 1098 Mortgage interest if borrowers are partners not LLC
We started an LLC partnership solely for the purpose of managing a short term rental property. We bought the property around the same time the LLC was formed. So the mortgage listed individual partners (SSN) as the bo...
Jennifer Roberts
When can you relist a newly purchased property in a1031 exchange?
I had a question that my QI couldn't really answer. Before I bug my poor CPA again, I'm wondering about the collective consensus of this group. How long do I need to keep a newly purchased property that I exchange in ...