Mindy Perry
rental loss deduct against w2 income for real estate professional
Hi everyone, is there a cap on how much rental loss you can deduct again your w2 income as a real estate professional? Thanks so much!
Greg Tunes
Subject to financing VS Quit Claim Deed
What is the difference between buying Subject to financing VS Quit Claim Deed (Quit Claim if you've done your title search homework) from a liability standpoint? Are there pros and cons between the two documents (resp...
Christopher McMath
loan modification on 4plex
Helo BP, i have an idea but need some info on putting it together. in my area (Chicagoland) most os the multifamily owners who want to sell are deep under water and rental payments barely make the mortgage. i have ...
Account Closed
Ohio: Paying tenants the 5% interest on deposits > 1 mo rent
I have a couple tenants with large deposits. I knew there was a 5% annual interest on the part of the deposit in excess of one months rent, but I just read the law and it says you have to pay the tenant that 5% every...
Justin Summers
Tax question on Self Renting- Single Member LLC to SMLLC
I'm buying a campground and for liability protection reasons I'm looking at holding the real estate in a single member LLC and Renting the real estate to another SMLLC that I also own that will run the campground oper...
Donna Pattani
Seller repaired sewer line agent says I'm responsible for rubble
I am 1 week out from closing.Seller repaired a sewer line and now the yard is full of rocks and rubble.My agent is now fighting with me that I'm responsible for getting rid of all the rocks and dirt. She says it is "r...
Jude Welsh
Federal Lien Removal process
I plan to bid on a property in a NJ (judicial sale) sheriff's auction that has a Federal Lien attached for IRS 1040 taxes. This lien is junior to the foreclosing mortgagor, and will be wiped out. The Government was ...
John Zevenbergen
Replacement Cost vs ACV
I am looking at a foreclosure property listed at 50k and assessed around 85k. I requested a quote from an agent and he came back at almost 1, 000 / yr. This seemed high to me. Quote was from Northstar.
The agent sai...
Larry Watson
Question about applying losses to W-2 income.
I am in need of a good CPA. My current accountant says that I have to suspend most of my real estate losses do to the fact my wife is a high W-2 wage earner. I know you are limited to $25K if you are a non professiona...
Matt Berklacy
POA power of attorney, buyer out of country
Hi I need to have a POA (my father in Reston VA) set up, ahead of time being proactive to give wet signature to purchase of any property I buy, for purpose of speed efficiency for closeThe buyer is me, out of country...