Zoe Long
Have not claimed depreciation for 6 years- how do I start?
How can I go from not claiming allowable depreciation on a rental
property to claiming allowable depreciation without creating an
unauthorized change to my accounting method.
I have owned the property since 2003.
I...
Richmond Taylor
HELP! Buyers want to close all cash bc lender can’t perform
Hello... please help. Closing is next week and buyers have requested an extension. Sellers refused to extend for a number of reasons. Buyers are now stating they will pay all cash at closing since their lender can’t p...
Olga Andrukh
Assessment- how does it relate to taxes
Hello all!I am looking to buy my first multi family but need to make sure I understand my monthly payments to find the best deal. Unfortunately this includes figuring out taxes. I am trying to wrap my head around asse...
Tyler Heap
First multi-family purchase - first time landlord
Hello everyone - I’m closing on my first 3-family property in May and I’m seeking some advice. 2 of the 3 units will be occupied upon closing. Both units are occupied by tenants-at-will. They are both paying well belo...
Kirsten Ostby
Commercial bldg purchase inherit biz tenant with Lease, QUESTION?
I'm in the process of purchasing a commercial building with two business spaces. One of the spaces my startup business will occupy and the other space is currently occupied by an existing business with a commercial tr...
Jeff Brower
Lender wont count rental income in DTI if taxes are self filed?!
Has anyone heard of a newly released IRS rule that requires you to file with a professional if you want to use rental income in your DTI for new loan qualification purposes? I just went to get preapproved and my lende...
N/A N/A
Liens attached to a house sold on land contract
I sold a house on land contract. I wanted to know if it is possible that a lien from a government education loan in default could be attached to this property, and does this jeopardize my equity? I should be in firs...
Jonny Schnaible
Flipping houses as an LLC as FSBO - No RE License - Arizona
Hello~I'm getting ready to start a business flipping houses here in Phoenix, AZ. I set up an LLC for my business partner and I, for all the obvious reasons, but have hit some snags. I've done a bit of research and hav...
Eve W.
Real estate loss in 2013, could it be carried over to 2014?
My real estate wholesale business had a loss of over $8K in 2013 and I was/am not a RE professionals regards to IRS terms. I had profit in 2014 for wholesaling of over $15K. Could the 2013 loss be carried over to 2014...
Michael Nahm
Advice on Roommate situation and renewing a lease
Hello to all,I'm seeking thoughts and advice on a new situation I'm in.I own a home that has been rented out for a few years to a few roommates. All roommates signed the lease and are jointly and severally liable for ...