Hello everyone, I am just starting out and looking for my 1st property to flip. At this point, do I need to worry about forming an LLC or S Corp? My goal is to focus on flipping houses for the next year and then keep ...

I’ve searched the forums but can’t find an answer. I’m hoping a season investor or CPA can chime in.I currently hold title in my own name and have a mortgage in my own name. I’d like to sell my property in a 1031 exch...

Hi BP! My wife and I are purchasing our first rental property and looking to set up a DBA. After researching some information about sole proprietorships and partnerships, we are confused about the right approach. We l...

We have nice house where tenants found mold in 2 locations.  Well I think its only in one location
Questions... How would you handle the situation below?  I know nothing about mold or repercussions of dealing with mo...

Hi all, are expenses incurred searching for and/or purchasing (going to the closing) rental property tax deductible...whether that be mileage, or airfare to another state?

In the midst of purchasing several tax certificates in City of Chicago.  Had a quick question how is this reported in your federal tax return?  I figure it is reported when the tax certificate is terminated due to red...

Does anyone know if the Disabled Access Credit can be used to make a rental accessible? Specifically, if we are adding a ramp, a stairlift, or widening doorways for a wheelchair bound tenant?

Hello,We have a tenant who has rented from us for a number of years. We initially had a 1 year lease agreement, but never renewed the agreement in writing. This tenant is now late on rent.My question is if we do not h...

So, this is my first year to claim a sale of property. I've been reading. If anyone experienced is bored, I'd love to clarify a few things, so here is my info. * Purchased property in Aug 2014, Sold in Feb 2015 (owned...

I cant find this exactly on the IRS pages, but I have read on some sites that I may have to claim the insurance payment, as rental income, and then the entire cost of the repairs add to normal repair on schedule E. Is...