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I have recently bought 1 property, and am in the process of buying the second one. The first home collected rent December 1, and I earned 500 over what I owe. My second property should make 700 each month. My plan ...
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If my wife and I own our own house which have appreciated well over 1 million, and I would like to use a 1031 exchange in order to defer taxes - I have these questions, let's assume we purchased it for $1 million, and...
If an individual purchases a rental property and incurs expenses for property management, maintenance, and mortgage interest, how are these expenses typically treated for tax purposes, and what impact do they have on ...
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Hello friends , hope all is well during these wild times.I’ll try to keep it short . When I started I refinance all 8 of my properties . I would pay cash then 6 months later refi .Now, however I have cash flow and mon...
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Hello Experts - I am ready to purchase my first single-family home this year. I have one roommate willing to pay half the mortgage, so I am trying to figure out how to structure my deal. My plan is to use a first-time...
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Hello! Tax question from a new real estate investor. Right now, I have a side business making 100k/year and two rental properties I bought this year that cash flow about $800/month. If I deduct all my actual expenses,...
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At what point in your RE Investing journey did you hire a CPA to do your taxes? At one rental? At ten rentals? After creating a business? Trying to determine how much longer I should do my own taxes. Thanks!
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Hello,Does anyone have any experience for reducing rent when a lease is coming to an end? In our area the last 3 years rent has increased immensely, like a lot of areas. However there is a huge flood of new Apartments...
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I'd like to apply for a home loan so I can purchase a property in Dallas TX that I'll rent out. I own a small IT Consultancy business in MD and have a good credit score. However, I've been self-employed since 2010. Fr...
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I am a new landlord renting out my first rental property. Does the IRS consider rental income as regular income and tax accordingly (30%)? Are there any special tax breaks or deductions?