Michael Plaks
The so-called "STR loophole" - hype or real?
Buckle up. This is a long post addressing many myths around the current obsession with the "STR loophole." And the first of such myths is that it is a loophole. No, it is not. Loopholes are something UNintended. In co...
Jordan Sunshine
Save on your taxes for 2016!
I'm sure everyone has some knowledge to bring to the table but might not know everything about saving money on your taxes so this thread is here to help make a collective list of ways to save money on your tax returns...
Matt W.
Help me understand depreciation recapture!
Hi BP,
I wanted to post to make sure I'm understanding the depreciation recapture process using an overly simplified example. I'm leaving out deductions for closing costs, maintenance, repairs etc.
Say I buy a hou...
Mark Forest
Other deductions
Where do you all put deductions that cannot be attributed to any specific house? Things like inspections for houses you did not buy, periodicals about real estate, tax prep, education seminars and classes for real es...
Tom LaRocque
Higher deductible killed conventional and FHA - Now what?
My condo is an HOA that is suddenly non-warrantable for conventional financing. To save money, management raised the wind and hail insurance deductible from 5 to 10 percent. That exceeds the 5 percent max allowed by ...
Jordana Frost
Pied-à-terre for W2 job (tax deductible?) and STR
Hello!
A friend is exploring a potential professional opportunity that would require her to be in NYC about 2 days a week. To lessen the commute burden, she is thinking about investing in a small property about 1hr b...
Justin Demember
Tax implications on new rental duplex
A 50/50 partner and I just purchased a duplex with a conventional loan. We have a tenant in each tut came with the property and receive 1000 in rent. P&I is $200 with taxes and insurance NOT in escrow. We have no ...
Tiffany Campbell
Section 8 Property Tax Deductions
I am considering buying a section 8 rental property with a tenant in place. The location is York, PA and the property taxes are rather high, $3,000 per year. In reviewing the section 8 requirements there is a one sent...
William Coet
Insurance for Loss of Rent Due to Broken Water Pipe.
Hello, A water pipe broke and caused flooding. Tenants will be out of apartment for 2-3 weeks. Tenants have put a stop payment on check and said they will prorate for when it is complete. Will landlord policy insur...
Wade G.
Charging for Tenant Damages
How do you charge for some damages? Specifically, when the lower panel on a double car steel garage door is dented due to closing it down on something. When something like that happens the door is still good and ope...