If I buy a 3-flat in Chicago and live in the top unit, can I depreciate the entire building normally as I would as if I was an investor who did not live in? If not, would I be able to depreciate 2/3 of the building?I'...

I need to replace broken vertical blinds in a rental.  Any recommendations of style/vendor?  I was going to replace with new verticals blinds but am now thinking a curtain rod would be cheaper or panel blinds would be...

I am looking to purchase my first mobile home park. 95% of the homes in the park are tenant owned. What trades should I have out to inspect the park? I figure I would have a general contract inspect the 2 park owned h...

Hello all! I set up an LLC for my real estate investment company a year ago. Last year I filed personal losses (most just the cost of the marketing and LLC set up fees). It seemed pretty simple. However, this year I u...

Hi All,I'm a new member from Kansas City. I am currently in window treatment sales and have been in the design industry for over 10 years.  I would like to use real estate as a road to financial freedom. I'm hoping to...

Hello everyone,I'm seeking opinions on the tax treatment of remodeling in certain situations. For example, let's pretend I purchase a house for $90K, misc rehab is $10K, so I'm "all-in" rent-ready at $100K and adverti...

Hi BP family. I put up one of my properties for sale and I received a verbal offer that I liked but the agent is asking if would be willing to accept 20% and interest only financing for 2 years. The buyer would then r...

Good morning BP

Im attempting to keep accounting for our first SFH rental. We acquired the property oct 6th and have performed some repairs. The problem im having is the money we leveraged for property purchase and r...

Hello allMy brother and I have created a complicated mess with our real estate transactions over the past decade.  We're now trying to clean things up via an LLC.  Currently, we have some houses in California that we'...

I understand that when we finally make our first deal, that property will be in its own LLC. But regarding the ownership of that LLC, my questions are:1) Do we need to go ahead and form a Corp now before we have any p...