Grant H.
First time doing rental property taxes. Need advice
I purchased my first duplex, out of state, over the summer and am now preparing to do my rental property taxes for the first time and have a few questions on deductions.Is the home inspection deductible?I initially ha...
Shawn Underwood
To rent or not to rent???
A little unsure about the situation that I’m in. A 3 bedroom rental that I have has been listed with not that many showings (historically I never had problems but rental saturation and getting closer to year end makes...
Charles Press
50% Rule & Taxes and Insurance
The 50% rule (or guideline) says you should not exceed 50% of your gross income in debt service.I.e. Principle and interest payment every month. Example, your gross rental income for the month is $1,000.00.Therefore y...
Saverio Nestico
Structuring a real estate syndication
Hey guys! Thanks in advance for any guidance... I am entering into the world of syndication (large #multifamily income producing, value add investments) and I’ve been educating myself through my experience, constant p...
Matt Smith
Expense allowed for 1031
I am planning to see property A to buy property B using 1031 exchange.In order to get top dollars for property A, I need to do some home improvements (paint, carpet, etc.)Is it possible get money from the 1031 exchang...
Bonnie Low
Is there a rule of thumb for estimating STR expenses beyond PITI?
Hello BP! I'm looking for feedback from experienced STR operators. We're experienced with LTRs, but are hoping to buy our first STR in early 2022. While I feel confident running numbers on LTRs I'm not sure what to es...
Chas Lumley
Recommended documents before making an offer.
Hello all,I'm looking to make my first offer on a duplex and I'm needing help deciding what to request now vs what can wait until the due diligence period. Is it reasonable/expected to ask the seller to provide all th...
Danny N.
Question/Advice About Taxable Income On $507k Cost Basis Condo
So I was just thinking about this tonight and will call my CPA tomorrow, but figured Id ask here for now. I have a rental condo currently thats worth $650-675k, I bought in foreclosure for $507k, 18 months ago. Anyway...
Shulem Elias
55% towards expense
Hi BP Family , While learning on how to observe a rental deal generally before delving into the details, I cam across the tactic of just checking the Cap Rate on the deal , to see if it matches the investors interest,...
N'Teasha Brownlee
VA Loan & Business Taxes
I am working on getting funding using a VA loan and was told that my business tax deductions will disqualify me. I knew this we a possibility because it happened with my last property. To get that property 7 years ago...