Francesco G.
Water Damage Coverage
I own a few fourplexes and noticed my Water Damage coverage seems low on my policies at $5k. What level of coverage is everyone getting for water damage? My building is 3600 sq ft. 2 bed/1 bath units. 2 units on s...
Mariah Volk
A few questions!
New to this, so please be nice :)1. If we meet all of the requirements and choose to take bonus depreciation on an STR in 2024 (to take advantage of the 2024 40%), would recapture occur if we decided to change use in ...
Lucky B.
Is a LLC really beneficial for the small guy ?
First thing that will come to your mind, protection against a lawsuit. Well how about a judge piercing your corporate veil to tap into your assets if he or she wants to. I am asking this question because the LLC in th...
Pat McCandless
Self-directed IRA
When using a self directed IRA as a down payment on a rental property, I'm understanding that any cash flow can't be touched for personal use (if that's not the case please chime in). What happens then if you wanted t...
Dan Huntzinger
Possible Lease violation but unsure
I currently have a tenant in a year lease agreement, changing to a monthly lease on June 1. One section states that "the number of occupants shall be occupied by no more than 3 persons, 1 adult and 2 children under th...
Raj Gandhi
Shift taxable personal income to business
For purposes of reducing my personal taxable income, is it effective to run rental income & expenses through a business? I need some of the rental income for personal household expenses which would be a salary (r...
Art P.
Mortgage Interest deduction tax treatment on mixed use assets
Hello all tax professionals on BP, I would like to reach out to the knowledge base to see if any of you have dealt with a similar situation as addressed below and how to properly handle it. Thank you in advance!Topics...
Larry Flanagan
Hold rentals in S-corp?
I am buying a house this week that I plan to hold for a while as a rental. I plan on paying cash for the purchase, rehabbing, then refi'ing. Is holding personally or in S-corp most tax advantaged? One issue is most...
Robert Stamper
401K Solo contribution limits.
Hi everyone. Are 401K solo contributions limited to the amount of income made in the single member LLC? Example. Let's say I made $1,000,000 on a W2 job and made $10K on a single member LLC. Could I put $50K in ...
Ruben Sanchez
First time homebuyer
Hi BiggerPockets forum I would like to get some advice on how to invest on a multi family rental building 4- units to start using The FHA program ,I am a good law biding citizen I’m just looking for opportunities.I wo...