I recently incurred costs when one tenant moved out and another tenant moved in. The management company categorized the cost as turnover. How should I account for this? Cleaning and maintenance or Repairs?
Thanks!

I have an LLC and it has its own business account and credit cards and everything. The business is not generating enough revenue to cover all of the expenses, so when a bill is due, I deposit cash and categorize it as...

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hi all,Quick question.I have a home under contract. It’s four beds with a semi converted basement (it has a sad looking kitchen). The city zoning has the home listed as single family, but the previous owner added in a...

Hey guys I was just wondering what the state of North Carolina categorizes income made from wholesaling as. Is it earned income or capital gains + self employment?

Hi All,
I'm new to BP, but very excited to have this as a resource moving forward!
I am looking for the best option for financial accounting for my rental properties, but not willing to pay for a service like quickb...

Oh boy, I am confused:I was looking at a P&L statement of a 40+ unit MFH and noticed that seller did not include significant renovation costs to update units each year in the expense section. Those expenses were l...

I have 35 units and and use have used Buildium for the last year. I love how it records leases, keeps track of rents due, and charges a late fee automatically. I find it very difficult to use for vendors and my genera...

So when you are doing a rehab, how do you handle categorization of expenses into capital accounts verses expense accounts?  Do you even try to keep track of the difference?  Any significant renovation to the house cou...

Hey guys,

Did my first Drive for $$ and got down like 10 property addresses that looked vacant or abandoned. Some questions came to my mind while I was driving around so I figure I ask the vets.

1) When they say ta...