Robert Campbell
Who do I call, RE Attorney? CPA?
All:I did my first flip earlier this year for proof of concept. 17k purchase, 11k rehab, sold 45k (45k - 28k = 17k pretax profit, no realtor) . I am finishing my second one, which is going to be about 80k all-in, ex...
Bobby Paquette
MTR's and Who else uses them?
I think everyone has heard of Travelling nurses staying in MTR's , and construction workers I have noticed are becoming more and more popular. My question is who else do you all see staying in these properties? Is the...
Matthew T.
Limiting Tax liability as a flipping company
I started another LLC in 2017 with a focus on wholesaling and flipping homes. We held nothing in this company and sold everything no longer than 5 months. Our CPA is saying we will be classified as a dealer/trader a...
Ryan Spath
Sulfur issue from city water?
Hello BP community. I am a DIY landlord and one of my tenants reached out and said " the overflow hole in the bathroom sink has a sulfur smell" and "the water has been leaving a yellow buildup around the drains" the t...
Tracey Thornton
Bed Bugs in my rental house. Need Advice
I have owned a rental house for years and have never had a bug issue in the past, or with past tenants. But now I have a new set of tenants that moved in 7 months ago. They are now claiming that there are bed bugs in ...
Rebecca Wilson
Renting to Family Member
My daughter is currently living in a property I rented in the pass to non family. In 2019 she moved in, however, she is not paying rent or any of expenses, ie, utilities, electricity, HOA, etc.How do I handle this s...
Rhonda McDaniel
What to do when the house SMELLS Awful!
You get a house under contract to wholesale to an investor- congratulations lucky you! But, it smells awful! "What died in there?," is an appropriate question here. But, more likely it's the cat that was left behind w...
Adam Demchik
House had mold..was cleaned with bleach and primed with Kilz...is this good enough?
Looking to purchase a rehab and the seller has already remediated a mold issue by using bleach and painting everything with Kilz. I am pretty sure this is not the correct method. The house had mold in the attic a...
Daniel Remin
Going from single family to multi
Can you do a 1031 Exchange if the property you buy is a multi family and you live in one unit while renting out the others?
Danae Meurer
Accounting for seller concessions
How does one account for seller concessions from the HUD-1? Is that amount subtracted from the basis, or is that money allocated proportionally to each item in the closing costs it covered?Also, if there is a Lender ...