My husband and I closed on our first investment property at the end of October, 2020. We incurred expenses during the last two months of 2020 as we started the renovations on the property; however, we are just now st...
How should an LLC be structured if you want to pay out to yourself and incur the least amount of tax penalties? Under a corporation?
Hi,I am starting out as out of state REI and am realizing that there is a lot of money that gets spent in doing due diligence on a out of state property. For. example airfare, lodging, property inspection, appraisal e...
GroupMy wife and I are slowly proceeding towards our goals of being a buy and hold investors. We didn't make any purchases during 2016. How do our treat our incurred expenses during 2016? Thanks
I’ve been a lurker for a little while now. Listening to podcasts, reading and suffering from a case of analysis paralysis. Ready to start actually acting and curious how it works with expenses I incur prior to purchas...
My wife and I currently own 4 rental properties with mortgages in both of our names in Ohio. We have had good success but want to legitimize/protect ourselves/business and move the properties into an LLC only in my na...
I am an Australian who has been living in the US on greencard for 18 years.I am curious what options there are to keep my rental property (8plex) here if I return to Australia.I know it is not a simple question, and t...
If my friend buys a house for me in my name and we have a personal loan on the amount used to purchase the home, is there anything illegal about that?As a second option, if we go the route of him lending me the money,...
Does anyone have any good spreadsheet or accounting tools for the small investor. (Currently have a 2-unit in my portfolio)?
I purchased a mobile home out of state a couple years ago and decided in 2023 to remodel and get ready to rent. I rented it on December 1, 2023. Can I deduct any expenses incurred throughout the entire year 2023 for t...