Brian G.
Does a widow owe money from a sale to pay debt owed by spouse?
If a person is on title jointly with a spouse and their spouse dies, can the surviving spouse keep half of the equity after the property is sold if the deceased spouse owes more money than the equity remaining after a...
Rodney Woodruff
File LLC as Pass Through Entity or Seprate Entity?
The LLC did not purchase any properties but did incur expenses. Do I need to file the entity separately from my personal filing?
Dustin Moore
Tax Question.. If I have more expenses/deductions than income...
If I make $10,000 in rent this year, but have $15,000 in expenses/deductions due to rehabbing, do I get some sort of tax credit for the $5000 that I’m upside down on? How does that work?
Andy Wu
Unpaid Water Bill (Dekalb - Foreclosure Auction)
My fund recently purchased a house from Dekalb foreclosure auction. After we purchased the property, we received a fax from Dekalb county regarding on a $30k+ unpaid water bill that we are responsible for. We ran the ...
Tiarra D Taylor
1099 S form. Gross sale in wholesale question???
On a wholesale deal. $50k total sale, $11k profit. Double close process. 1099S form says $50k gross proceeds. Is wholesaler responsible for taxes on the whole 50k even though $11k was all they received???Or should thi...
Kirk B
Lawn Time! How do you handle your lawns?
Most of the landlords I talk to around here provide a lawnmower and gas and have the tenants maintain the lawn. This is in 1-4 family units generally. 5 and up they either pay a specific tennat or hire a professional ...
Loc R.
Buying a business with a SD-IRA | Profits & Taxes
I am trying to find answers, but they are hard to come by.
Let's imagine the following scenario:
I come across a person who wants to sell his retail store. Let's say he sells widgets.
So, my SD-Roth IRA buys the L...
Olena Kureshi
Subject To and Wraparound Mortgages
Hello everyone,Does anyone successfully invest with Subject To's and Wraparound Mortgages? Can't find legit information as for how to avoid Due-on-sale clause. I've heard about the option of creating Trust with the se...
Rick Im
Do these expenses qualify for start-up expenses?
Hello,
I purchased my first rental property on October 4th. After a month of renovations, I listed it on the market on November 19th and secured a tenant with a lease starting on December 10th. Before this purchase, ...
Jason Mak
How much in turnover costs to you recover from security deposit?
Wanted to survey all the multifamily managers out there and ask them how much of the actual unit turnover costs do you deduct from the tenant security deposit?For example, typically if a tenant leaves the unit in good...