Brad Henson
First deal fell through - what expenses can I deduct from taxes?
Hi All,I was under contract for my first property, but it ended up not appraising, so we backed out. This property was located in Michigan (I'm in CA). I spent $525 on the inspector. In addition, I spent $400 on a fli...
Matthew Porcaro
House Hacking - Am I able to write off part of my duplex?
Hi Everyone, I'm close to putting an offer on a duplex that I am looking to 'house hack'. Now, I will need to be living in it for a while, so it will be my primary residence, but the second floor will be rented out to...
Jasper Li
Mortgage Payment Question
I am currently renting one side of my Duplex and living in the other side. I’m collecting the rent into a business account which covers part of the mortgage. And also transferring money from my personal account into m...
Jonathan Rosario
Tax deduction if LLC owns property
First time investing into real estate. I am in the stages of purchasing a property with a traditional loan, then transferring ownership to an LLC to protect my personal assets. Once the home is under the LLC Ownersh...
Paul DeLeon
Second home purchase
I have an opportunity with a family member to jointly purchase a home for the family member to live in as their primary residence. They will pay all PITI and repairs while there. The home is in Arizona. I live in Cali...
Lacey A.
Rent to Myself
Is it legal, per the IRS, to rent my primary home back to myself? I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but t...
Will Barnard
Health Savings Accounts
Has anyone used HSA's and if so, have you self-directed it and invested in RE? I have just recently come across this type of account and find it to be very beneficial to RE investors. It is similar to an IRA (which ca...
Joe Roberts
BRRRR Investing Tax Questions
I have a few questions when it comes to calculating taxes on my BRRRR properties I am hoping someone can shed some light on.
1. I want to make sure from my research that I know how to properly arrive at the deprecia...
Christopher Zikakis
New to STRs
I'm sure this has been covered but I'm having difficulty finding a few specific answers as I try to map out a strategy. My wife and are are W-2 employees.
The goal is to eventually have a vacation home that my famil...
Jayse Brock
Accounting for Multiple LLCs
Ok, so after a recent visit to my CPA for personal taxes, I was asking how I should set up my accounting. I have read a variety of articles on BP and they have been helpful but not exactly specific to my problem. Righ...