Ellie Narie
Who is allowed to claim rental income?
If an unmarried couple wants to buy or build a fourplex, should both of them be on the deed? Who would be allowed to claim the rental income? Let's say one spouse works and earns money, and the other spouse doesn't wo...
Brendan O'Brien
Who gets a 1099?
For professional property managers: who gets a 1099 at the end of the year?
I know contractors need a 1099 if they got paid at least $600. Do you send your investors a 1099? How about tenants? Anybody else?
Reid Hanley
Valuing a Mobile Home Park purchase based solely on Rental Income
I need some input from all you BP MHP Pros! I met with a seller yesterday who has an 81 unit all POH Park for sale based on a 7x multiplier of his annual rental income. Would anyone here buy an all POH MHP based sole...
Josh Larson
Rental Property Investor
I’m curious to know if I setup an LLC in a non-income tax state such as Wyoming/florida will I be able to transfer/own property from an income tax state such as Michigan without incurring said states income taxes? Exa...
Gulliver R.
Q's about checkbook IRAs
Is there a Roth option for checkbook IRA?
If I rollover 100% of funds from a tradition IRA (both contributions and earnings) into a checkbook IRA, Can I buy a RE property with my checkbook IRA funds regardless if the...
Matthew Schlottman
Colorado tax on Flip through LLC
Weird question that will probably require a CPA but wanted to see what people had to say first. Through an LLC a partner and myself flipped a condo in Colorado this year. He lives in Colorado, but I do not. Since ...
Harry Darmawan
Cash Flow per unit
Just wondering what's everyone cash flow like per unit on a monthly basis.
Sahil Parmar
Rental Income and Taxes
Can depreciation on rental properties be used to offset W2 earnings? So for example, if I make $100,000/year through a job, can taxes on that income be offset if I make a loss when I deduct depreciation from my rental...
Christian Olivo
I am stuck, I am a 1099 person that wants to buy a home...
1099 person that doesn't want to go back to W-2 job to Buy a home to be more clear. What would be my options to go forward? I am stuck here and having trouble getting started bc of it. I just want to make it clear tha...
Luke H.
Applicant own a business/ no job/ no credit history
Hello all, An applicant has explained that she has no credit (not bad credit), she and her husband started a business 6 months ago so they don't have tax returns. I'm trying to figure out what to do with this since I...