Can someone please explain how a 1031 Exchange works?

Hi. I understand with flipping you have to pay ordinary income taxes on the profit.Could anyone explain how taxes would be for a partnership, in which profits would be divided 50-50 in the following scenario: ==one pa...

To make a long story short, I just purchased a SFR out of state that was occupied with a long term tenant. Well the tenant decided to move out a week before escrow closed. On their way out, they left a few broken wind...

Hey friends, I'm considering using a Self-Directed IRA to invest in a short-term vacation rental. So two questions: 1. Should I transition my current Traditional IRA to a Self-Directed ROTH IRA or keep it as a Self-Di...

Hi everyone,First time poster here. I work as an attorney (in a field unrelated to real estate, unfortunately) and plan to purchase property in the coming months with two long-time friends, one who manages his parents...

My wife and I have a mmllc for a duplex in iowa. Would my planned buisness trip qualify for tax reasons. We are trying to go to hawaii this coming May for a ten day trip. Would my plan qualify a buisness expence regua...

Hey guys!I am getting pre-qualified for a loan, we are planning to do a 1031 exchange.The realtor referred me to 3 lenders, 2 of which never done 1031 exchanges. Does the loan officer need to be knowledgeable about 10...

I've created an LLC in Broome County, New York.  It's time to decide whether to leave it as pass-through taxable or choose to have it taxed as an S-Corp.  My plan is to use the entity to hold my buy & hold propert...

Hello BP,

I am potentially going to buy a park with well water and City sewer. I have two questions:

During Diligence what are the action items I need to do and things I need to keep in mind?

Once I own the park, w...