I earned 90 k as a 1099 contractor working in my LLC. expenses are around 20 k so NOI is 70k.  it appears tax efficient if I tax this income as S-  corporation. i do have EIN for my LLC and all income and expenses wer...

I've come across this on the last few flips and wanted to see if anyone has any ideas of a way around the following example.

Buy a home on January 1 with the intent to renovate and flip it.

Complete the...

buyers realtor calls me today and says that Buyers underwriter wants to see a breakdown of my expenses invested in the property supposedly because the FHA guidelines now require this. I'm afraid they'll see the pr...

I passed FL agent exam yesterday. As a full time medical informatics, I like my job, so I will continue it. My home is in Tampa FL area. Real goal to get the license is to build our personal property profile in a no t...

Hello,
Looking for the best way to layout bank accounts for a property. 
1- account for security deposit 
2- account for mortgage to come out of, that tenant pays into monthly via Zelle
3- account for property exp...

Hey BP, just a quick question: What kind of expenses are needed to be paid in cash when purchasing a property? I know that there is the downpayment and closing costs (which include lender and third party fees). Are th...

Hi BP,I recently incurred significant expenses for the exterior of one of my properties, and am requesting your assistance in understanding what I may be able to deduct in the current year.  I would classify each of t...

Hey everyone,Stumbled across section 179 while looking for ways to increase my deductions. Anyone familiar with this? My wife and I bought a Ford Edge which is in our names, not the LLC. Will we be able to expense par...

I am curious: is anybody here who self manages their property but registered a property management company for it? I am considering creating one, not in order to get other clients, but for two reasons:1. easier to tel...

I’ve started to build ground-up multi-units for myself and its been a painfully long to get to completion with all these new requirements.  So I started looking for other options if I want to keep doing this.  A new f...