George Habator
Filing tax for rentals transferred from trust
Hi, all. Here's a question for the tax pros. My grandparents left rental property in a trust, of which i had a share. (The property is in CA, if it matters.) In March of '21, the trustee transferred title of the prope...
Dan Crilley
HOA is voting me and my family down on a beach property any tips?
Me and my wife are under contract to buy a beach front condo on Florida's gulf coast. We close August 3. Inspection went well. Appraised at the purchase price $435k. HOA background checks were fine I was told last wee...
Ernie Hogue
How are option fees taxed?
Hi BP community. I searched in the Tax and Legal forum, but didn't see this question answered specifically. I am trying to determine how lease option up-front option fees are taxed. My understanding is that they are r...
Kevin Galimba
Rent by the room to family
Hi team,I recently closed on a 4 bed single family property in Jacksonville. My plan is to live in it for a year and buy another property afterwards. For the meantime, I'm planning to rent out the three rooms to my da...
William Coet
Deed Restriciton to Prevent Competition
Hello,When selling a piece of land can a deed restriciton be used to prevent the buyer from developing a certain type of asset on the land (commercial, multifamily, etc)? Can the deed restriction be lifted by future o...
Logan Jamieson
Annual gift exclusion
Hey all,Question here, obviously i will follow up with a tax attorney but wanted some preliminary info.Due to current mortgage rates I am exploring ways of getting creative. I have the opportunity of a parent who has...
Dennis Rupert
Brand New Landlord in NY - Need advice on un-clear situation
So I just bought a 3 unit rental house in Fulton, NY on 5 Feb 2021. I know the person I bought the home from and have a little bit of back story. Have tenants in one of my units who claimed they had been COVID posit...
Account Closed
How can you ensure an Condo HOA won't change your right to rent?
Looking at buying a 2-1 condo in a 16-unit building. Currently, there are no rules preventing owners from renting and about 50% are rented currently. Looking at minutes from a COA meeting 2 years ago, the board had a ...
Richard Ochoa
Tenant not paying rent
My tenant just emailed me the following, "Hello Richard,Everything is going.....Not sure if we can make the rent this month due to my unemployment being halted this last pass weeks........shall be restarting here will...
Gerald Nurczyk Jr
Useing others credit for a mortgage
If anyone could help me I would truly appreciate it. The problem: Looking to buy my first home/investment property. I just recently (within 6 months) declared bankruptcy. I have decent enough amount of money for a do...