new to this site, hoping to simplify whether I should sell a lot purchased when sold a SF rental back in 2006. the gross sales price of the house was 165K, but the net was closer to 151K.  We did a 1031, purchasing tw...

I just bought my 1st rental property last year and need some help with what costs to file for tax return.Turbo Tax asking to escrow fees for following categories:Abstract and recording feesLegal fees, title search, do...

Hi my name is Paul. My wife, Joann and I, are looking for financial freedom through real estate. The purpose is so  we can spend more time working in ministry, be more generous, travel, and be in control of our time a...

Hi BP!
I am currently about to sign a contract after negotiating a deal on a RV Park. (40 Pads)
After reviewing the contact, I saw that the Earnest Money is $10,000 for a close to 300K purchase. Just seems a high i...

I am about to close on a Duplex that is fully occupied at this time.  I was hoping to close by the end of the month but the bank appraiser seems to be too busy to get it done.  Lets say I don't close until next week w...

I really appreciate everyone's contributions on this website. BP is simply a very high quality product.
I'd like to name my top posters on here:

Gold Rob K He is very funny & has some great insights on things. He...

Hi all! I am in the process of writing up a contract that is 100% new to me, so I wanted to get all of your opinions as you all have wwaaayyyy more experience than me. It’s 800k piece. 600k is for on property and 200k...

My under-10 year old has $500 in her savings account. As a teaching opportunity, we were going to let her 'invest' in our next property purchase. In return, she will receive her allocated portion of net earnings eac...

I own a property and it is rented to a great tenant who always pays the rent on time and cares for the property. My concern is should I sell and get out now. The rent more than covers my expenses but the property is 3...

I always believed that the rule was that if I owned and lived in a property as my primary residence for 2 of the past 5 years that when I sell it I would not need to worry about paying federal taxes on the gains if it...