Kate Lockhart
San Marcos TX SFH Ordinance
Does anyone have experience with the SFH ordinances in San Marcos, TX? The ordinance states that no more than two unrelated people can live in a SFH. It limits the rental possibilities of single family homes to excl...
Jackie F.
From Primary Residence to Rental - Tax Implications?
I know I can ask my tax accountant, but wanted to get a general feel for what I am thinking of doing.This home was my primary residence for 3+ years then it became a rental for the past 1.5 years.How does the capital ...
Thea Linkfield
Potential Renter wants to run a business at property
Hey Bp! Just put my first property up for rent on Craigslist in Jacksonville and within 1 hour had a call from an interested party who wants to run a daycare from the house. She has no problem paying the security depo...
Bill Exeter
The Housing and Economic Recovery Act of 2008 Amends Section 121
The Housing and Economic Recovery Act of 2008 includes a provision that modifies Section 121 of the Internal Revenue Code, which is often referred to as the 121 exclusion.
The 121 exclusion allows a homeowner to ex...
Account Closed
gain/loss on sale of rental property
In 2007 I bought a condo for $190k. In 2013 I moved and converted it to a rental as I was too far underwater to sell. The market value at that time was 70k (basis for depreciation). I've taken about $8,000 in depre...
Mike Stiffler
Non-resident landlord - pay state income tax twice on stock sale
I noticed a pattern when paying my taxes the last two years and it seems like I’m paying state income tax in two states from long term capital gains of stock sales.I live in CA (since 2013) and have a rental property ...
Brendan Scully
Selling to LLC for Capital Gains Exception
I have a rental that I lived in for two years. It has been a rental the last two years and I plan to sell it soon in order to take the capital gains tax exempt. However, I would like to keep it if possible. I have ...
Tracey Hamilton
TItle in personal name but expenses paid by LLC
When doing our first flip project, we purchased the home in our personal names. We used money from our LLC account for the purchase, but IIRC the actual cashier's check to title company was in our personal names. We ...
Jordan Graham
Looking for Help Navigating City of La Mesa Guidelines
I recently parked my RV on my property in La Mesa and have been renting it out on Airbnb for the last few months. Before going this route, I did a lot of research on other Airbnb's in La Mesa and discovered there are ...
Pal Sa
Community property and guests
This is not related to rental property. I did not find any relevant section in which to ask this question. If a married couple owns a property together, do both spouses need to invite a guest? Is it enough if one spou...