Lisa Martin
section 8 non paying tenant
Section 8 tenant in Tennessee is behind on rent. I purchased the property with her lease in place 6 months ago. Section 8 is supposed to pay about half of her rent. I'm trying to get used to the timing of when the ...
Jonathan C.
Losing money on turnkey property. Should I sell?
About 20 months ago, I bought a turnkey property in a C class neighborhood in St. Louis, MO. Despite it appraising for the purchase price, I likely overpaid. In September 2023, the renter stopped paying, leading to ev...
Steven Gesis
Tenant moved out and so did the mechanical equipment... more....
Recent tenant eviction, although they are rare in my world, they do occur once in a while, this one was like no other one before, tenants of (3) years, stopped paying the rent, we had to evict the tenant, the tenant m...
Account Closed
two houses sold
My cul de sac has about 10 houses. Four houses have been for sale, two, for over a year, one for seven months or so (for the second time), one for about five months.
During that year there has been little activity reg...
Yash Bhatt
Sold rental property at a loss
Hello all,I recently had to clear out a rental property and ended up selling for a loss. I just want to make sure I do everything right for tax purposes and hopefully recover some of the losses.I sold it for less than...
Michael Zagorsky
Cost Basis and Losses for converting rental to personal residence
We had a tenant leave our rental property in May of this year. We received about $5,000 in gross rent. The tenant trashed the property and we had to spend about $8,000 on repairs. Including new paint ($4,400) an...
Pete Bhanshali
Flip to personal residence
Hello BiggerPockets, Currently I am working on a flip project, I should be done with it before the end of the year. Due to market uncertainty, I might have to postpone selling the property or take a loss. My other ha...
David Tremblay
Portfolio Lending Options
I’m currently looking at a deal that has 3 buildings and 18 units in total. I reached out to the commercial lender I’ve dealt with in the past to see if they could help finance 70% of the purchase price with the other...
Vaughn Lewis
ACV vs RCV for Flip Scenarios
I've seen many related discussions on the boards here - but none that explicitly address what I'm looking for - at least in simple terms.Here's the scenario:Project: Rehab and flip, own for less than 6 monthsHouse bu...
Lance Lvovsky
Tax Summary of Coronavirus Relief (CARES ACT)
On Friday, March 27, the President signed the massive $2 trillion coronavirus Stimulus Bill (the Coronavirus Aid, Relief and Economic Security [CARES] Act) to provide assistance to workplaces and employees. The law pr...