Kevin Suksi
Tax Treatment of Investment Property Sold at a Loss via Land Contract
Thanks in advance for any insight on this item.
I am preparing a tax return for another investor who converted her tenant to land contract.
This property was purchased in 2005 for $106,000. The investor is tired of...
Pesi S.
TAX Treatment For Carried Over Passive Losses for Real Estate Rental Activity
Hello,From what I have been given to understand from a CPA, he mentions that Carried over Passive Losses from Real Estate Rental Activity cannot be utilized when you sell only one of your properties in your LLC. You ...
Terrence Evans
First time tri-/quadplex investor and banks' treatment of rents as income
So I am trying to get prequal'd for an owner occupied tri or quadplex here in SoCal. It will likely be FHA. I was told the other day by a lending rep of a certain nationwide bank that because I'm just starting out a...
Ouman You
What would you do with this case?
Hi guys,I'm trying to help a relative here and I need your insight.She bought her house for 70k in the 70s, now the area is well sought after in SM and it's worth north of 3.2MIL....it was never rented and now that sh...
Nick Donato
Using 10.31 funds to purchase a BRRRR is this possible?
I'm selling a rental I've had for several years now and will profit over $200,000. In addition I have some cheap private money allowing to make a purchase in the realm of $500,000 cash.
My plan is to sell this prop...
Dave Antonelli
Need advice on deal.
I have 4 properties in Bismarck,ND. With the recent oil boom up here, rents have increased dramatically. Oil prices have dropped, but production and trucking havent slowed down and probably wont for awhile.I bought a ...
Danielle Fraser
House with termite damage - how to still move forward?
Hello all,We have our first house under contract. It is located in Mount pleasant and we got it offered at a great price. The house has a older roof and AC but we factored that in with the offer.During the CL100 we id...
Joey B.
rehab sell reinvest profits?
Have a question I can't find an answer to. I just bought a house that I am planning to rehab and sell and hopefully profit enough to pay cash for another with those profits and then rent the second one. This is not...
Chris Mason
Easiest way to be allowed to prepare taxes, especially Sch E?
Hi Tax Pros,I'm a mortgage lender. We kind of have a love/hate relationship, but I'm probably never going to ask you for any sort of letter "guaranteeing" that Sally's business is "guaranteed" to make $X00k/yr for the...
Winnie C.
Tenants want pest control without finding bugs
Hi all. I'm a relatively new landlord and I need your help.My tenants (a couple) moved into my condo in MA a month and a half ago. They just told me they wanted pest control for bedbugs in the unit because one of them...