Christopher Duron
Cash out refi & mortgage interest
Hello Everyone,I am considering a cash out refinance and I came across an article that states I must utilize the money from the refi to improve the property or buy another property to ensure the mortgage interest is a...
George Ramsay
Tenant Improvement letter
HI, Recently acquired a rental unit with a long term tenant. After a 60 day trial period of improvements and a rental increase i've agreed to allow the tenant to stay. The Tenant would like to replace the carpet which...
Michael X.
Land value, improvements and depreciation
This is a scenario that I have not run across before. These numbers are roughly based off of the auditor's website.
A commercial property has a higher land value (100k) than the depreciable improvement value (60k). ...
Gabriela Rezende
Tax Deductions for the Strategic STR Host or Owner
Short-term rental marketplaces such as Airbnb, HomeAway, and Vrbo have made it easy for homeowners and property managers to market their rental property. Experienced operators know that in order to succeed, you need t...
Derek Buehner
Tax deductions on a remodel for a future STR while living in it.
I currently live in a single-family primary residence. Next year, I plan to purchase a second home and move into it. I intend to rent out my current home as a short-term rental. Before listing it on an STR platform, I...
Jesse Phillips
Tax benefits ifits to Multiflamiy
Been listening to Real Estate podcasts on BP. talking about tax benefits to investing in Multifamily. I have no experience in multifamily yet. Why are the tax benefits they speak of? Would like some explanation on th...
Rebecca Shine
Operating Expenses vs. Capital Expenditures
I have a couple questions around bookkeeping and taxes for rental properties. I recently had some work done in the basement of one of my multi family properties that amounted to $4300. It was really needed because w...
Denise Evans
Alabama Tax Certificates/Deeds and Payment for Improvements
This question came up yesterday, and I thought other people might have the same concern. As a result, I am sharing it here. After a tax certificate sale in Alabama, the investor is entitled to possession and in some ...
Denise Evans
Alabama Tax Sales and Improvement Payment
This question came up yesterday, and I thought other people might have the same concern. As a result, I am sharing it here. After a tax certificate sale in Alabama, the investor is entitled to possession and in some ...
Will Spruill
Purchased duplex with LLC, is it a deduction?
Our LLC bought a duplex for $70,000; is this a deductible expense that will be a write off over a period of time? As a two member LLC, would we each write off $35,000 acting as a pass thru entity, or is this a separa...