Myself And a contractor friend have a house under contract. The deal is I found the deal we got the hard money together. He fronts all renovation cost(he has a construction company) we split the profits 50-50.  We pla...

The IRS discusses vacation home maintenance days.  They use examples where a family performs maintenance on a home for a week and the week is not considered personal use (it is additional to the 14 days of personal us...

As a retired graduate level engineer, I have always done my own Federal and State Tax returns.  Albeit for a couple of dozen years now I have used Turbo Tax to prepare and file returns.  I have always tried to underst...

whats on your checklist prior to buying property?
i just read a thread about how some1 needed to rip out a kitchen because a termite inspection wasn't done properly. so i wanted to ask what is on your checklist of ...

We have one short term rental and sometimes we end up cleaning it ourselves because its hard to get cleaners last minute.   How do you handle scheduling the house cleanings when you dont know the check in and out sche...

Started working with a new firm that takes advantage of accelerated depreciation. Seems like a very interesting concept and was wondering if anyone has any experience with it?Basically depreciating a house over 5 year...

I'm currently applying for a renovation permit on my rental unit. I'm not making any structural changes, simply upgrading the kitchen and bathroom. My plans have been approved and now I need to pay for the fee and I b...

Hi, If I have a single member LLC where the member/manager is a Trust and Me and my wife are the Grantors/Trustee of the Trust with beneficiary as the Living Trust. In this case can the LLC be considered as disregarde...

Hello Beautiful People of BP,Being new, I'm always learning and trying to learn. Some potential mistakes were saved by what I hear and read right here. Others, I have to learn the hard way. And for the record, I knew ...

Hi BiggerPockets community,I contracted a project with Ideal Renovations back in July 2019. This is my first renovation project ever. The contract included: a bedroom to bathroom conversion, recessed lighting on the s...