Nicole F.
Tax foreclosure in Philadelphia, pa
hi everyone, 2 side by side properties that were owned free and clear by now deceased owners is acquired by a relative for $1, that relative (now owner) after close to 3 years is behind about $3500 in state taxes. doe...
Justin Westmoreland
How to get a loan with only 1099 income?
So I was wondering how is someone like myself who's sole income is based on 1099 is able to qualify for a loan? Most of my income from the past 5 years come from my Network Marketing/Home Based business which is a dou...
Sheen Jowl
tax implications when moving properties into LLC
Hi BiggerPockets,I wonder if anyone has experience in moving properties from personal name to LLC. The properties stayed on my 1040 Schedule E for a few years and have accumulated loss when depreciation is included. H...
Dan Stewart
1099 won't qualify me for an apartment
Hey Guys,So I have been working for myself and other the past 10 years. I make 95% of my money during the summer. I am either 1099 by people or get paid cash under the table which I put towards my business. I also hav...
Tracey Hamilton
Where to put expenses for efficient tax prep?
My husband and I have an LLC for our flip business, which is also a licensed general contractor business, in Oregon. I personally also have my Oregon real estate broker's license, which I obtained to help with the bu...
Scott Mclaren
LLC Operating Agreement
Does anyone have a good LLC operating agreement for an LLC that holds rental property? I am going to open LLCs and put each property in its own LLC with each LLC having its own bank account. I have some LLCs now and h...
Natalia Keenan
Acquiring property in LA area
Hello fellow investors in California,I need your advise about purchasing real estate property in LA area ( like Westwood, Culver city, Brentwood, Santa Monica).I am interested in 2 beds 2 baths condo/townhouse/house b...
Tony Mendoza
Transferring House Hack to LLC??
I’m house hacking a legal 2flat. I would like to transfer the building to an LLC. For two reasons; 1. Avoiding liability 2. To remove the rental income generated to me personally and have it towards an LLC. Has anyone...
Heidi Ann Faller
Negative AGI from rental properties - how to carryforward and use
In 2021 I had overall negative AGI on my personal return due to losses on rental properties. I had no tax liability in 2022 and now here in 2023 I do. How/ where do I utilize that prior loss? Is it an NOL on Schedule ...
Tyler Bolton
LLC versus personal umbrella policy for Indianapolis SFH rental
My wife and I have owned a single family rental house in Indianapolis for 1 year and are trying to decide between an LLC versus a personal umbrella policy. We currently live in CA, but are moving to Illinois in the co...