Shawn Moore
IRS Tax Write Offs
Hello All,The right to redeem a property I purchased ended 9.3.15. I have served all interested parties and advertised the barment. My tax deed covered 2009-2013. I just recently paid 2014&15 back taxes.My plan is...
Levi Lais
Our investment property burned down! So many questions...
First, I'll lay out the facts and then I'll follow that with the questions...
The Scenario
1. We purchased a house for $467K as an investment property in January, 2022 (the 3rd in our portfolio and in no way would b...
Kaaren Hall
Invested in a House with Your SDIRA? Remember to Keep a Cash Reserve.
After you have invested using your self-directed account, you might wonder about the next steps to take. Importantly, it's crucial to be aware that a lack of available cash in your Self-Directed account can expose you...
Constantia Petrou
Security Deposit Question
Hello,This community has been so helpful and I have learned so much from your advice! This time I am facing a dilemma with regards to charging some damage I incurred when my tenants' moved out as a result of their lo...
John Gavin
2 owner LLC - breaking it into 2 distinct LLC’s
A friend and I have an LLC that owns multiple properties and for several reasons we would like to split the LLC into 2 LLC’s and each own one. We would like to split the homes and both have separate LLC’s moving forwa...
Andrew West
Late fees: who should get these?
Hi friends-Wanted a little sanity check here. Tenants in a triplex that I own are late on rent and get charged a small ($50) late fee per their lease agreement. In your experience, who gets this late fee??My Property ...
Shea Spinelli
Deduct or Capitalize - Placed in Service Exception
Hey BP Members, quick question. We purchased 12 units in July 2017. In November 2017 we added an additional unit. Wouldn't we qualify for the exception @Brandon Hall discussed as Myth #5 in his article '7 Common Myth...
Nathan Gesner
Home-based business - increase rent?
I normally forbid tenants from operating a business from a residential property. However, we have a house on 100 acres and a tenant that wants to breed high-end dogs. These are professional people, not a puppy mill, a...
Ash Ab
Am I wrong about renting vs buying?
Ok so I'm just trying to think in advance. So I just finished residency and signed an offer for a position to be making 330,00 a year. After taxes, insurance deductions etc Ill be taking home 190k a year. Now I signed...
Bryce Till
Taxable Rental Income From Primary Residence
BP, I live in Utah and wanted to get some opinions and insight for the below inquiry I will have to include rental income from my spare room in my primary residence. I want to know how this will look on my income ret...