Justin Wooten
Tenants are getting separating
I have a tenant whose fiancé left yesterday. He states he’s getting a restraining order on her for various reasons. The current lease is up in May and he is asking if I can take her off the lease. Can I get some advic...
Adam Summers
Complex Closing on Foreclosure
I recently won an auction on a popular foreclosure auction website. The house that I won sits on two lots. The majority of the house is on the primary lot but the attached garage and part of the basement extend into...
Don Konipol
Tax Return falsification scam
So I just came across this fraud. Had a loan applicant who owned a motel. Received loan package including last years tax return. Asked for the 2 prior years tax returns, was like pulling teeth. When I finally got ...
Harshal Gaikwad
Changing Name in Lease from Trust to Rental LLC
Hello Community:I have currently rented a property to a tenant and signed the rental agreement in the name of Trust. The Trust is the on the Grant Deed (Title) as well.We have recently created a rental LLC and I am in...
Neel P.
My financing fell thru, after initial closing date. Do I get EMD?
So my lender was lagging a lot and therefore me and the sellers agreed to postpone closing date twice (we signed anAddendum). Now the official close is set for next week. This is about 50 days after signing the init...
Navid A.
Mileage deductions in a multi-member LLC
Hey BP,
How do mileage deductions work in a partnership structured as a multi-member LLC? Are the miles I drive only deductible to my share of the rental income or is it deducted from the total income of the LLC fir...
Josh Dehmlow
Quick question on RE LLC compensation for member doing the books,
OK, probably NEVER a "quick" question and answer concerning tax, $, etc. But I will try to make it simple. What is the simplest way to compensate one member (of a 2 member-mamged 50/50 LLC that has a couple rentals) f...
Adriel Cisneros
For a syndication, who files Form D? The Fund or their Attorney?
My partner and I are LPs in a real estate Fund in northern Texas. After locating the firm's Central Index Key (CIK) number on NASAAEFD, we observed they filed (2019) only once, but under the name of the Fund, not the ...
Don Darnell
Adding Capitalize Carrying Costs text to 1040X cost $2000…
Hi, I own an unimproved lot and capitalize HOA fees and property taxes every year to increase the property basis by amending my taxes and adding something like the following “magic” text as required by the IRS:
“For ...
David King
List of landlords for a class action against the states
Just thought there should be a thread where the class action attorneys can go to get a list of plaintiffs who want to sue the states. I'm so in on suing the state governors just say the word.
5th Amendment US Consti...