Marija Petrovic
Second FHA purchase Duplex San Diego
Finally, on June 2, I closed escrow on my property purchase in San Diego—a significant investment goal I had been working towards. While this accomplishment is exciting, the process was strenuous and challenging. Toda...
Daria B.
Replacing a microwave….
If a tenant has 2 months remaining on a lease, who has not paid rent since 9/2021 and has no plans on paying (and is working) but has had state funds from COVID who finally paid the late rent, complain about a non wo...
Kris Clig
Qualifying as a Real Estate Professional - 750 hours/year
MY QUESTIONS ARE: (Note - Background information can be found at the bottom if needed. And thank you in advance for any advice you can offer. I really appreciate it.) 1. Does the time it took me to sell my first prope...
Alex Xu
Can I use my investment property to operate a business?
Stupid question? Maybe...I'm in the process of buying an investment property (single-family). I plan to open a business using this property. Can I create an LLC for the business and rent the property to my business? I...
John Watson
Allocating common deductions when you own multiple properties
When I have a common expense such as buying a tool (i.e. a lawn mover) that I use for multiple properties, how do I allocate the deductible expense to the multiple properties I own? Based on net rental income?
Carlos Araujo
Need so advice to start flipping
Hey guys I'm new at this, I'm looking to get in to flipping, I live in New York City I have roughly 20k liquid and I have a 780 credit score, any ideas on how to start?
I always see this shows on how to flip real s...
Mark Dreher
Property Management common practice procedures in Cleveland Ohio
My wife and I own several SFR rentals in California that are being managed by a third party property management company. In California, our tenants pay all of their own utilities that are placed in their own names at ...
Shelli Neal
Forming my company
I have been in business for a year after forming an s-Corp which the flipping gurus told me to do... It is very expensive and from what I learn now, unnecessary. I should have formed an LLC for my flipping business.S...
Christy Osterkamp
Exemptions to Tennessee Franchise and Excise Tax
Hello Fellow BP'ers,
As a fairly new Tennessee LLC, we received a "final notice" from Tennessee Department of Revenue requesting $646 for Franchise and Excise taxes and late fees.
When I called the Dept of Revenue, ...
Dru Steeby
Deducting Capital Expenses and Maintenance
Hi BiggerPockets,I have a question about taxes that I can't seem to find the answer for on google. In my breakdown of my rental property I put away 5% for CapEx and 8% for maintenance. If I do not use this money in a ...