Brandon Heimsoth
Repair/improvement and Safe Harbor rules
Newish landlord here. I have a couple items that need fixing at a property I'm managing myself and I'm wondering about the tax implications since they are higher ticket items.Item #1: The drivewayI got cited for a c...
John C.
Insurance for if I forget to insure a property
I own 100+ properties in PA in my LLC which I am sole member of. I am always afraid that an insurance policy will lapse and I won't notice and then there will be a fire or something with serious liability or repair co...
Robert Freeborn
Sub-contractor accountability contracts
On a recent flip, I had an electrician set us back by 3 weeks with no shows, walk-offs and other delays. I want to put together some contract that I have all my subs sign with some sort of contingency to cover events...
John Anderson
Accounting treatment for cash flow?
I am getting very strong cash flow, on a property that I fixed up last year. I am wondering whether the depreciation and the rehab costs can be used to offset this income? Yes, I am going to speak with a CPA, but want...
Erik Belinfante
Paying bills and organizing bill pay
I have only 4 STR doors. I have had a helluva time paying bills on time. I have created a spreadsheet that seems to be less than efficient in identifying all my expenses. I keep getting dinged with new taxes, LLC fees...
Brent Rieman
REI HUB vs Quickbooks accounting software
Looking for advice on accounting software. I currently use quickbooks online. Very frustrated with them, they keep raising cost, I think im up to 80$ a month now. Invoicing ACH payment cost have increased 10 fold. I...
Scott Felix
Deducting cost for fixing paint patches (AZ)
After tenant moved out, we noticed paint patches in multiple rooms. The tenant had put unapproved decorations on the walls and after decoration removal, they tried to repaint with similar shade without any approval. T...
Bob Malecki
Solo 401K contribution limit question
I have a Solo 401K set up under one of my LLCs that has earned/active income. I recently sold one of the rental properties in my other LLC via private sale and had this LLC invoice the other LLC at closing for a $35K ...
Mark Forest
Charging for your time after tenant leaves
After tenants leave and you find damage you will of course send them an itemized list of the cost of materials to fix the damage to explain why they are not getting any or all of their security deposit back. How do y...
Andrei Nikulin
Prop Management Software w/ ePay (Merchant Acct) for individual
Hi Everyone -I am looking for a property management software with e*Pay (Merchant Account) that we can set up in an individual's name (a sole proprietor) vs. needing to set up company. (LLC / Partnership).Can anyone r...