Adam M.
Cost for a Tax Specialist
Hi Everyone,
I am relatively new to rental properties and currently own 3 single family properties as rentals. I’m trying to better understand the cost for a tax specialist. With just three properties, do you think i...
Andrew Dincola
How much to charge a couple versus a single tenant?
Hey BP!I’m wondering what you guys might think is an appropriate rate to charge a couple for a bedroom that I would otherwise rent to a single person for $1000?The bedroom has a private bath and is coming furnished wi...
Nate Maier
Tax filing question
Good Afternoon,My girlfriend bought her first single family house this year in the middle of October. She renovated it over the winter months and has a lease signed starting March 1st. There were relatively signific...
Dan Turkel
How to track income/expenses when income is net of fees
My property manager uses Appfolio. When I receive my rent payment each month, it’s put into my account as a single deposit. This number consists of the combined rent for all of my properties. It is also net of all exp...
Tam Truong
Taxation and asset protection question
I don't fully understand how tax structuring work so here is my question and I don't have the best accountant. I have 5 houses with each home under it's multi-member LLC, my dad and myself. I have been filing each LLC...
Victor A.
Checkbook SDIRA LLC - how are taxes handled?
I am planning to open a Checkbook Self-Directed IRA LLC through a custodian that supports these accounts. I understand that you also need to obtain an EIN for the purpose of opening a bank account in the LLC's name, ...
Mark Douglas
Do you have separate bank accounts for each property??
Hello all,I'm on the cusp of closing on my first property ^^ and I want to have as much in place as I can.I know I'm going to open up a second checking account for this first property, to keep it separate from my pers...
Jeremy H.
Bank Accounts - How do you organize them?
How do you all organize your rental property bank accounts?Bank Account per property? Pros: Would be very easy to see expenses/costs etc. Cons: Would end up with lots of Bank Accounts but still organize them all under...
Padma Mody
Need some location idea for Farmington Hills & Southfield, MI
I am planing to buy starter single family home at Farmington Hills & Southfield (Detroit), MI. Can you please give me an idea about the area and price range for the single family home?
N/A N/A
LLC and EIN
Hello all. I am forming an LLC for asset protection, and was wondering whether it is necessary to obtain an EIN? I will not have any employees, although I figured it might be necessary to obtain bank accounts and cr...