Precious Thompson
Bad Investments
What would be considered a bad investment property?
Todd Michael
Reporting 1090-INT income on 1040 for single member LLC
In 2014 I created a single member LLC for the sole purpose of using to invest in crowdfunding opportunities. Since its a single member LLC and for tax purposes is classified as a sole proprietorship LLC, all revenue...
Jonathan Tavarez
Hard money for owner occupied rehab
Hi BP fam.I have been trying to understand this for some time, in my area hard money lenders won't do loans if the person purchasing the property with the loan plans to move to the property after rehab, what is the re...
Keno Powers
Can my HOA restrict the type and number of tenants?
I live and own a 3 bedroom townhouse in a small community of 3 bedroom townhouses in a college town in Maryland. I'm moving and was planning to rent mine out to 3 college students when the HOA sent me this email (I'm...
Jasmine H.
Applicant doesn't want to provide social security number
I have two applicants (they are friends) who want to move in with a nanny for one of the applicant's child. They love the place and we like them and think it will be a good fit. The issue is they don't feel comfort...
Holly Schuster
PHILLY INVESTORS (unique probate inquiry)
In Philadelphia, if a decedent has been deceased for MORE THAN 21 YEARS, letters (admin/testamentary) are unable to be obtained in the usual manner. I’m told that a lawyer must file a petition in orphans court before ...
Heather Little
Real Estate Professional Status Qualifications
I left my corporate job last year to stay home with my daughter and focus on our real estate business. I'm trying to determine if I can qualify as a real estate professional. I know you need 750 material hours per yea...
Aksel A.
Starting a new 1-member generic LLC RE biz
Greetings everyone,In parallel to my house search (settled on focusing on 3 family house thanks to gentlemen recommendations here), I am also starting my general purpose LLC.It will have a foot on housing rentals and ...
Adam Horowitz
Land Trusts when working with HML and Commercial Lenders
The HML and commercial lenders I am using will not lend to properties held in land trust. I must use LLCs. So I perform the BRRR method and now want to involve a land trust for anonymity purposes and other purposes. H...
Josh Smith
Tax Red flags on fully-owner occupied SFH + part owner occupied/rental SFH within 20m
Hi,
I have a SFH1 (4bed/2bath) in which I live with my partner and kid and occupy fully. I also have another SFH2 (4bed/2bath) 20 miles away. In SFH2, I rent a couple of rooms out and keep the rest for my personal us...