JD Martin
Pre-paid rent - taxable in the year accepted or year applied?
Good afternoon all!Before I do my taxes, I have a unit in which one of the tenants (a college student, parent paying) prepaid their rent for the first 6 months of 2016 in late December. Should I claim the income based...
Account Closed
New House Hacker - Taxes & CPA Help in Palm Beach County FL
Hey there and happy holidays from Florida! First time homeowner who purchased a multi-unit with my boyfriend. We're renting out one unit to a longterm tenant and Airbnb'ing the other. We both work full time, regular 9...
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...
Michael Junior
Assessing a deal.. how to take the most risk out of it
Hey can someone just either fill me in.. or point me in the right direction. How can I asses wether the deal is good or bad. Someone please break it down. I understand you need to run the numbers. The way I under stan...
Sue Zikria
Buy 1 Apt building or separate townhomes
Dear Forum,Is it more profitable to invest in an apt building with 5-6 doors with 3k monthly passive income or 30 separate units or townhomes with $100 monthly passive/unit which adds up to same 3k. Please note the do...
Carl M.
Rehabking a rental vs. a flip. How is it different?
What are some ways that you would rehab a property differently if you were renting it versus flipping? How would you do the flooring different? Kitchens etc?Any input would be appreciated.
Account Closed
Fair analysis or too conservative??? Newbie here
I'm a newbie here and would greatly appreciate some feedback.3 Unit PropertyList Price 69,90020% down (13980)Loan 55,920 at 7% for 30yrs = 372/moINCOME2125/mo (25,500/yrly)EXPENSESTaxes 3087yr (258/mo)Ins 1200/yr (100...
Jeff Brower
Paying yourself 3% commission on personal property purchases?
Good morning everyone. I would like to get some opinions on a situation that I have been contemplating regarding personal purchases. I am soon to be buying a 3 or 4 plex to owner occupy with an FHA 3.5% down loan. I a...
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...
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...