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...
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...
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...
Jack Robinson
New Bank Account for House Hack?
I recently closed on my first house where I will rent out the spare rooms. As this is my first house, I’m using a first time home buyer loan which requires the house to be my primary residence for at least a year. I w...
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...
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...
Jack Srimani
Expense for rental condo
Hi
I am considering expense for a small vacation condo which I plan to rent out most of the time. In such a scenario does the condo expense be shown in the expense category while filing tax. I would appreciate any fe...