Charles Player
Income for rental property?
I have a question for you guys. I have a rental that the mortgage is $727. I rent it out for $930, thus producing a $203 profit each month so to say. When I state my income on anything from applications for loans to w...
Marian Smith
Does my Schedule E look like yours? Ma and Pop landlords
Due to a discussion about filing form 3115, which is evidently required but may not be expected to be complied with, I thought I'd ask if my Schedule E looked normal. (No red flags) First, can anyone link to an art...
Erin Luedeke
Renting to a Sober Living Business
I have an extremely large duplex, each side 5 bed, 2 bath. A sober living business owner has approached me to rent half of the building. I think it would only make sense if they ended up renting both sides. I’m concer...
John Thedford
My Insurance Company Is Cancelling Me
I had a new company write coverage on one of my rentals in the Cape Coral area. They recently asked for a 4 point inspection. The inspector found FOUR shingles with issues which would be an easy fix via replacement. H...
Frank W Lentine
Cash flow with not tax liability
Just had an offer accepted on a 4 plex in Phoenix, AZ. I work full time for a W-2. Using the rental property worksheet this property has some good cash flow. How do I get that cash without paying any income tax? Or...
Frank Jones
No comps dilemma. Can you get a mortgage with only 1 comp?
My son is trying to buy his first duplex using a 3.6% down FHA 30 year mortgage. He's going to live in half while he does some remodeling. His offer has been accepted and he has been pre approved for the mortgage. His...
Johnny Khoury
Eviction
Hi every one,I just want to know more about eviction,I have a tenant that paid 1/4 the of the rent last month do to getting laid off work.and she paid 1/8 this month for the same reason.what is my legal standing. can...
Ravi P.
Short Sale Agent Obligation
Would anyone be able to provide some insight in regards to a Short Sale Seller Agent obligation to the bank/investor of the loan. I attempted to place an offer that would be above list price for a SFR. Not much more,...
Donald DiBuono
Tenant Arguments in Duplex
First time landlord. I own a duplex and both tenants pay on time and I like them both individually (not that it matters). The two tenants are not getting along. I have contacted them both to try and work it out. They ...
David Braut
Wholesale Contract on Short Sale Deal
Investment Info:
Single-family residence wholesale investment in Des Moines.
Purchase price: $285,000
Cash invested: $500
Sale price: $332,500
This was a short sale that I negotiated with the ban...