Kip Cline
Should I be a real estate professional status for tax purposes?
What are the downsides of electing to be treated as a real estate professional for taxes? Would this make my real estate rental income become active income instead of passive? Is this taxed differently? I do not have ...
Josh Atkinson
Allocating sales prices on a package sale
Let's say you have a shopping center that is fully depreciated. You then build a dollar store on an out parcel and hold it for a year. In order to save in taxes can you sell both properties as a package deal but alloc...
James Daleiden
Property assessment calculations for live-in investor
Hey BiggerPockets Community,I’m relatively new here, and I’ve been trying to take full advantage of all the information on this great site. I’m in the process of preparing to buy my first property, but I have a quest...
Vinoth Amar
Buying as secondary residence Vs Investment Property
I live in CA, I'm planning to purchase a SF home out of state. I will mostly use it for rental but considering it as a retirement home.. I was given option by lender to close it as secondary home loan and then rent it...
Robert Niessen
How is prepaid rent handled in a sale?
Hi BP,
My wife and I are looking at making our first purchase. It's a duplex in Quakertown, Pa. One of the tenants has prepaid rent through August 2017. How is prepaid treated in a sale? Does the unearned portion...
Carolina E.
HML to rate & term refi
I am wondering if there is a certain amount a bank accepts to do a rate/term refi? I know some banks, at least here in Illinois, have a minimum of $50K loan for a purchase. I'm looking into HML and/or private loans ...
Doug Heim
I rehab with products made in U.S.A. to support renters/landlords
I rehab with products made in the U.S.A. to support American renters and landlords. The toilets, ovens, fridges, water heaters, faucets, and air conditioners that I've used to fix up my houses are all made in factori...
Ryan Fisher
Termite Bond Worth The Cost?
Question regarding Termite Bonds. The property that we have under contract has shown evidence of prior termite damage throughout. It was treated in 2017. The inspector stated that he did not see any current termites t...
Roee Agami
How to report profits from HELOC money in tax report
Hi,I opened a HELOC account and withdrew the money to lend it to an RE developer.I made profits from it eventually, as well as paid interest to the HELOC bank.Can I report it in a way that will allow to deduct the int...
Craig Cost
Tax Penalty for Flipping in Ohio
Does anyone know if there may some sort of tax penalty for buying and selling the same house, in the same year, in Ohio?