Mark C.
Somewhat unusual situation - one off, four to six month rental
I'll preface this by saying that yes, this is probably unusual, and yes I'm about to rent to friends. I'm in Texas, and I want to sell my house. I have friends that actually want to buy mine, but want to rent first so...
Molly L.
Tax questions and SSI payments
Hello all you smart people......I have been a stay at home mom (my husband works a 7-5 government job) and commercial real estate investor for the last 20 years. Every year I discuss our return with our tax preparer ...
Mike Faulkner
You're not going to like this question, but...
As a self-employed VERY small business owner paying approximately 40% of my profit in income tax every year, I am (understandably) not interested in giving the IRS almost half of the money my tenants will pay for rent...
Jon Haney
Selling a rental property for less than it's worth
Hi, quick question about selling a rental property for less than it's worth and tax implications.I purchased a rental property on 9/1/2022 for $40k, paid $4k in closing costs, and over the course of 2023 paid around $...
Daniel Dietz
How is "boot" taxed in a 1031 Exchange?
Hello All, I am trying to understand how 'boot' is taxed in a 1031 exchange. I am looking at a potential purchase from a relative and they might be interested in doing a 1031 into a new property, and I am wanting to e...
Matt Nelson
1st time Landord; maybe? Please help me understand!!
Hey, Everyone!Im relocating out of state and Im trying to get a financially realistic idea if I should rent my house out or sell it. I dont know how the homeowner to landlord "business" aspects play out and im really ...
Matt Galbraith
Renting out old personal res - can I deduct repairs on taxes?
Hey Bigger Pockets, new landlord-to-be here.We close on a new personal residence in March and will be keeping our current home as a rental. We will be doing some rehab work to our current home such as replacing some o...
Attila M.
Should I create a property mngmnt company for my own properties?
I am curious: is anybody here who self manages their property but registered a property management company for it? I am considering creating one, not in order to get other clients, but for two reasons:1. easier to tel...
Jeff L.
How exactly do umbrella insurance policies work?
Say I have two properties, both under separate LLCs and insurance policies.If I get an umbrella policy under one of those insurance policies, can it cover the other property as well? Or do I need to get two umbrella p...
Kelly N.
Returning a Deposit Early- Inherited Tenant- Thoughts
Hello All,So we just closed on a rental house yesterday, and one of our new tenants would like to renew his lease, which is up at the end of March (over 6 months away). He has lived there for 3.5 years, claims to pay...