Good afternoon all-My question is the following. If our 5 member LLC purchase a property and follow the BRRR strategy. However instead of “Repeat” we decide that we are only going to hold one unit and keep the cash. W...

So I am about to put the master bedroom (with bath) in my home (of 3 beds 2 baths) to Airbnb and I am confused about all the tax-related stuffs. Let's say my home is 1500sqf on a land of 6000sqf, and the whole master ...

If I pay a contractor for work performed should he give me a receipt or do I 1099 him? He uses his own tools and I give no training or anything. Thanks

Hey BP!I would love some recommendations on Real estate CPAs !I had a consult with NCH  Tax Services: Tax Planning for Companies | NCH (nchinc.com)It went well but I don't like the idea of using a company without a re...

Due to the new restrictions on HELOC loans of not being able to deduct the interest paid, do they make sense to open? 

I bought a property last April that my son and 2 college student roommates are living in.  Getting ready to do taxes for the 1st time since purchasing.  Do I treat the property as 1/3 second home that my son lives in ...

AllI purchased couple of properties using my own money earlier this year. Funded my LLC and bought the properties.Am thing thinking on drawing down on my available HELOC the same amount as my down payment.What would b...

Hello BP,I have some questions regarding operating multiple rentals under a LLC. I am trying to move my rentals under my LLC, when I do that do I have the payments be directly to my LLC? If so, how would I access the ...

So I am about to cash out a large investment from the sale of an investment property and am facing 1031 exchange options.I also recently sold my homestead and moved, now looking to purchase a new primary residence.Is ...

Two Questions...1. We are building a vacation rental in Montana. Cost of the build is about $550k. Not including the land costs. If we’ve spent $300k on the build in the 2019 calendar year, will we deduct that entire ...