Paul D.
How does a mortgage company look at depreciation?
Hello!Normally, on my taxes, I try to break even or make a little profit BEFORE applying depreciation to the property.I recently applied for my 6th mortgage, and the loan officer significantly lowered my buying power ...
Lakshay G.
Maryland Residential Lease (Purchased from BP) Question.
Hello Everyone,I have a question regarding the MD Residential Lease. On page 8, point 19B states "Landlord, in its sole discretion and for its sole benefit, shall cause the Premises to be insured as it deems appropria...
Eric Washington
Inspection Contingencies addendum
When making an offer is section 4b good enough to get me out of an deal that turns bad because of unexpected issues or contractor bids that make it not profitable.
My realtor thinks its good enough I think i shou...
Breanna Kline
Code requirements in VT
New landlord due to divorce and just trying to keep my head above water. I have been unable to find the specific code requirements within the State of Vermont. I am specifically trying to find information about the ...
Matthew Baird
Illegal Entry By City Officials
A friend of mine has a property management company and owns many buildings. We recently received a notice from our city stating that they entered the unoccupied building and inspected it. They sent a huge list of se...
Daniel Cruz
Partnership, SDIRA, Refinancing Question
Hi All,
If a partner and I own free a rental property free and clear, but my half was purchased using a SDIRA, what happens if we want to refi the rental to pull money out? Are we still stuck w/ a non-recour...
Account Closed
when someone wont tell me mortgage
many people i talk to say that what is left on their mortgage is none of my business.this last guy said "if you buy it for the right price it shouldnt matter how much is on the mortgage because ill just pay it off".fo...
Austin S.
Note got pulled for random audit!
My father purchased a note about a year ago. We just got notice from our servicer that we are out of compliance. I will try and explain the situation.1) It was a land contract that was originated in 20112) There is la...
Jeff S.
Instructions Form 1099-misc
Talked to my accountant today and he suggested I send 1099's. He said it is unclear what the repeal is all about. So, I went to the IRS to get forms and the lady at the counter said I am a trade or business and need t...
Diana Galindo
Rental Property with Bathtubs converted to Shower
I have a new rental. The property has 2.5 bathrooms. The owner converted both bathrooms to have stand up showers. I thought because of the ADA, rentals had to have at least one tub. Is this correct? If it is, whe...