Michael S.
Military Deployments and Tax-free sale of home
Curious if anyone on the forum has experience with the tax-free sale of a primary residence (up to $250k if single) concurrent with military deployments.
1) As I understand the tax code, if you live in a h...
Naz Hossain
Liquidate damage clauses on GC contract
Hi BP! I am looking to sign a contract with my GC i will be working with for the first time on a BRRRR project. An area the GC and I are having trouble aligning is the liquidate damage clause where a delay in the fini...
Steve K.
Question on Cap Gains taxes/ Section 121 Exclusion
Question on section 121 exclusion for cap gains, specifically the timing of needing to live in the property for 2 of the last 5 years. Does anyone know off-hand if that is for the calendar year or exact dates? Assumin...
Olivia Pool
Gains exclusion on separately owned residence post-marriage
Hello all! I have read through the IRS documents in this subject and can’t come to a clear consensus. Here’s the situation: I and my spouse got married in our thirties and both owned a residence. We got married Decemb...
Katherine Frank
Owner occupancy clause and advice on FHA
Can I get the occupancy clause lifted for an FHA loan or should I try to sell? I recently closed on a property I intended to move in with my boyfriend as we are having our first child. Unforeeen circumstances have occ...
Eric Richison
Non-qualified use tax on primary residence
Hi all,I'm looking into the tax implication of selling my current primary residence, which I used as a rental during a 4 year stint my employer sent me abroad. I'm interested to learn if there is any exceptions to th...
Evan Scott
Capital Gains Taxes
I bought a 3 flat in December of 2012. I have lived in it since that date. I am looking to sell my place at a profit of ~$150,000. I technically will have had it as my primary residence in 2013 & 2014, but it h...
Sean A.
Analyzing A Flip Deal
Hey guys just want to make sure I'm analyzing this correctly. I'm looking at a home in long island New York for a flip. The home was built in the late 1920's. It's a 3 bed 1.5 bath. It's a foreclosure that just hit th...
Kirsten Crotts
Referrals for a General Contractor
This is a courtesy post for my parents who have a property they are flipping in Bonney Lake, Wa. They are closing on the property in several days and unfortunately their contractor has dropped out due to unforeseen ci...
Tanner Kirkpatrick
First Airbnb - Rental Arbitrage
Investment Info:
Single-family residence other investment.
Cash invested: $7,000
This was my first rental arbitrage property. We held this property as an Airbnb for 3 months before we had to close it up ...