Aubrey Buikema
Tenant not paying rent due to emergency gas shut
Hi there,I have a question regarding how to handle a unique situation. This week, peoples gas shut off the gas to my entire building due to a “gas emergency” (without notifying anyone). I was notified by a tenant that...
Richard Mahn
Multi-state LLC?
I live in Texas and have one rental property in KS. I'm looking to acquire another rental property in TX, and I'd like to establish an LLC to benefit from the liability protection. What do I need to know about a TX LL...
Paul Stewart
Escrow for Repairs process with a REO
Hey So I have been in negotiations on a foreclosure property. The property needs about 10k in repairs in the property. The price they are asking for I believe in my opinion is the ARV price. The Bank is offering a se...
Nick Flint
Owner Financing Terms & Questions
Hey BP family!I’m checking out a condo this weekend and here’s the quick overview.1- How’s this deal look, anything jump out?Owner financed 2/2 condo78k asking price15% down: $11,70015 year repayment4.71% interest $51...
Joel Cannonball
S-Corp Election Form 2553 for new LLC
I recently formed a new LLC that will be involved in buy/sell, and buy/hold transactions. I read around online that stated I should go ahead and file form 2553 to be taxed as an S-Corp. I called a CPA for advice on it...
Joey Brehm
1031 Exchange Syndicate
Hello, I close on a property on OCT 15th... I have a sizable chunk of cash to place for my 1031 exchange. Looking to partner with someone on a multifamily project or invest in a syndicate if they provide a TIC structu...
Evan Ghang
How did multifamily units hold up during the last housing crash?
Did anyone own any fourplexes (or other multifamily) during the last housing crash in Seattle? If so, would you mind sharing your insights on how it performed during the crash? Did the property value dip X%? Were you ...
Robin Searle
Memo from HUD on using criminal background in screening tenants
Wanted to share this link - hopefully it will work. https://www.davisbrownlaw.com/filesimages/attorney...
Gary Li
Can I convert Rental Income from Schedule E to Active Income on Schedule C?
I have several Rental Properties owned by my wife and I, we manage by ourselves, so we have positive Rental Income on Schedule E. but negative Income on Schedule C, can I put $3000 Property Management Fees as expense ...
Nathan Saetveit
Home office - filing IRS 4562 with unallowed depreciation
I'd like to claim a home office deduction (I've reviewed the details and I'm eligible). It's my first year with a rental property, and I did not have a profit (on paper), so I know that the deduction and depreciation...