As of today we only own one property under the LLC, which we bought last year. We flipped a different property last year. For filing our 2022 tax return we were invoiced $3,750 by our CPA. He filed an extension for us...

Hi Everyone,I recently had an inspection done from my insurance company on our 6 unit multifamily building located in Elmwood Park and they want us to put in 2 fire extinguishers, but provided very little guidelines f...

If a renter does some repairs or maintenance for you, can you deduct it from their rent on the books? Is this okay to do? Or, do you have to make them pay full rent and then pay them and 1099 them (assuming it is over...

Hello BP Members,Hopefully I can resolve my issue in a passive matter. My partner and I have a property we purchase one year ago. It's a multi family with 3 apartments and 2 commercial. We have not been on the same pa...

Hey guys! Since I was a little kid my parents have been flipping houses on the side and some of my earliest memories consist of sitting on the floor of some random house while my parents painted the walls. I recently ...

So, you've snagged that coveted real estate professional status, but what's next? Well, it's not all smooth sailing from here – you've got some hoops to jump through to maintain that status. Let's break it down:
Firs...

I'm working on getting my first property ready for rent in west Cleveland, and I'm wondering how to handle the water bill. I know in some cities it's paid by the tenant but in others it's paid by the landlord. How is ...

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Tenant was on a 20 month lease (Oct '23 - June '25) on a single family home/Texas. He "talked about" the possibility of an early lease termination 6 months into his lease Apr '24 due to a new high pa...

So, this is a two parter – 70% Rant, 30% Tip, feel free to skip down to the tips section…RANT:So I’ve had a busy year, went from 0-8 houses, and I’m definitely feeling the growing pains, but the biggest one is with In...

I use a property management company, and they used two vendors for snow removal at my house (short one-car driveway, small amount of sidewalk in Omaha, NE). Between Jan 23 and Mar 2, I'm being charged almost $1700 for...