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...
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...
Leigh Sershen
Triangle area - North Carolina. Rental Property and taxes
Newer Landlord - have done my own taxes historically and felt pretty confident in them. Not as much now with a rental property. I am HUGE on using people who are recommended (for just about anything). I don't like tak...
Jennifer Stanovich
What happens to expenses if I move into rental property?
I am buying a rental house with proceeds from the sale of a rental duplex. I plan to renovate the house. There is a possibility I will ultimately move into the rental and sell my current residence. I know I would t...
Justin Frank
Multi Family Expenses
What is a good rule of thumb everyone is using to calculate expenses on smaller multi family facility’s when doing a quick back of the napkin evaluation on a property (5-20 units)? I typically use 50% of the stated gr...
Clyde Benfer
Letting a friend live at your house
Hello, from the research I have done if a person pays you rent to live in your house it is taxable income. This can take out a significant chunk of money that you would be using to pay down your mortgage.
If the o...
John Sampson
Self filing taxes for small property management company
Hello, let me start by admitting I know I should have had an accountant do my taxes! I have a single member LLC for a property management company. The company collects all rents, so I have 1099 MISC from several agen...
Bryce Henson
Tax Strategy - W2 Employee, Part Time Real Estate Investor
Hello all!What tax strategies can I utilize this year? I am a full-time W2 employee and part-time real estate investor in California. I invest locally and out of state in fix-and-flip and buy-and-hold properties. This...
Mike Nelson
Homeowner’s insurance claim covered yet tenant’s insurance didn’t cover temp housing
We have a small rental property that had a tub drain leak causing extensive damage to the floor/subfloor. We ended up filing a claim with our insurance. Our insurance covered new floors for the entire house as well re...
Dan Smith
Partnering with a friend
Hey BP, I have a friend who I have been speaking with about partnering together with and I was hoping for some advice on the matter. We are looking at contributing 50% each to fund a new deal and we wanted to make su...