Stephen Lynch
Bought in 2021, rehab in 2022. Tax handling?
Hello,I purchased a duplex in November of 2021, we've made some small repairs but it was mostly about getting the tenants out so we could start the rehab (scheduled for January). For 2021, I know it would be pretty ea...
Tico Sellers
Anchorage 4-plex inspection findings
Hey all! I wanted to ask for your thoughts on critical items to scrutinize on inspection reports. I am working on entering the Mountain View 4-plex market. I know many would steer clear of this neighborhood. Howev...
Mark S.
Property Manager Question - List of Work to be Done Before Showing Property
For the last two rental properties I've acquired, my property manager gave me a list of items of work that I should have done to the property before showing the property (e.g., small repairs, full repaint, change out ...
Account Closed
How to note non-1099'd Handyman for repairs in Quickbooks
Hi guys,I paid a Handyman $13,000 to completely paint, sheet rock repairs, rugs, floors, windows, toilets, replace counter top and fix a few leaks, on two houses. A real estate lawyer explained that as a sole propri...
Kelly Snodgrass
Keeping Expenses Low Build New Single Family Homes
My father-in-law is a builder and is helping us get started in the business. He mentioned that we could, especially starting out, probably build a house cheaper than he could because he doesn't have time to shop aroun...
Andrew Schultz
How do you categorize property expenses?
How do you break down your property expenses in to categories? For instance, Repairs, Bank Fees, Utilities, etc. I'm looking to improve the chart of accounts that I use to give the property owners I manage for a ...
Mike Montanye
First Turnkey Rental Inspection Report
We just got our inspection report back on our first turnkey rental. Here are the big ticket items on the report:Collapsed Main Sewer LineDamaged Sub Floor in a BathroomSistered Joists not securedElectrical system rais...
Peter Bras
Inventory Management System
Is anyone using a good inventory management system to track supplies in your STR? Admittedly I am a tracker and love to analyze mundane things like burn down rates to predict when I need to bring more supplies to the...
Joy G.
Who moves furniture for repairs?
We are installing two new windows and a new laundry room door tomorrow. I told my tenant to make sure the area is cleared for them to do their work and that all fragile items have been moved. When doing repairs in a r...
Jeffrey H.
Donations from a Foreclosure
Hi All,In 2016 I bought a mobile home on land for $2,500 that was condemned by the county and was going to be foreclosed. It had sat for about 5 years unoccupied. The contents inside the home were eerily untouched -...