Carol Smith
cost segregation rental real estate
We renovated and used a home as our primary residence for a number of years before converting it to a rental. We have detailed receipts and spreadsheets summarizing the cost of the improvements that were made. I bel...
Russ Eisenberg
Depreciation without income
I purchased a house for cash off a HELOC in 2022. It is in rehab now and no income has been generated from the property. My W2 life is very simple, so I typically just take the standard deduction. Do I need to itemi...
Michael Ebeling
Tenant property in public areas
Last year I bought a 4 unit, 2 story purpose built apartment. I use a property management company but I also stop monthly to check on things. The place has been clean and quiet until a new tenant moved in last month. ...
Ursula Lovings
Comparing Contractor Estimates
I was hoping to get some professional opinions and expertise. I have 2 quotes for renovation work on a house. One quote has the items listed, shows the price of each item as $0 and then has a final total. I have no...
Bienes Raices
Include sales tax in a repair deduction, or not (rental property)
If I have a receipt for several items that I used for a repair on a rental house, am I allowed to include the sales tax on those items in my deduction too, or just the base price of the items? I've called IRS and have...
Nicole Wood
Deductions and house hacking
Hello,We bought a duplex this year and have been house hacking. I'm curious as to how tax deductions work in this situation? Since we are also occupying the space how does it work when it comes to mortgage, mortgage i...
Ryan Saeger
Quick Question for Flippers
When flipping a house do you use the same template for the flip? I’m sure the rehab process varies from house to house, but in general do flippers try to stick to the same game plan? I.E. same countertop, lighting, pa...
Travelle Mason
Home Inspection Report
Hey BP fam, I just received my very first inspection report on a triplex. Since I have ZERO experience assessing one, would someone be willing to put an extra pair of eyes on it? I am interested to know a few things:1...
Peter Lysiak
Cash out refinance without a clear CO?
Does anybody have experience with a cash-out refinance without a clear CO? There are tenants living in the SFH but it's quite "messy" and I don't have a clear CO.
Roselin G.
Contractor and expectations
Hi all,
I’m pretty new to REI. I’m looking at different contractors.
-I want to add a closet below a staircase
-Take down and add a new trim in dining room
I have a list of about 8 items, and want to get an idea ...