Jane Johanson
VRBO Payment Processing - Help!
My renter checked in on 7/25/22, and, according to my owner dashboard, VRBO owes me $9927. (total rent minus vrbo service fee) On 7/26 I received an email that my tax form wasn't filled out. I filled it out and s...
Mary Jay
how to calculate taxes on a sold rental
Hi guys,My 1031 exchange may fall aprat.I am trying to figure out how much would I pay in taxes on a property that I sold?I sold it back in May for 120K, I bought it for 25K back in 2009I am in a 30% tax bracketAm I c...
Hayden Hirzel
LLC Rental Property Question
If you buy a rental property under an LLC, do you have to pay taxes on the income in produces? I'm located in Michigan.
Joe White
A BRRR Example - The Numbers Crunched!
Hi,I'm trying to learn BRRRR a bit better so I created an example I was hoping I could get feedback on so I can check my understanding. I understand the numbers are basic. This is just an example. Example:Buy Property...
Dominic AIton
Property Obtained on Sheriff Sale Negotiating Mortgage Owed
Hi I purchased a property on sheriff sale back in January and the redemption period will be up in early July here! I have a property attorney and know now that I purchased an association lien and the mortgage will not...
Jeremy H.
unusual situation: not sure if I own capital gain taxes?
If the property sat vacant for most of 5 years do I owe capital gain taxes or not?Here is requirement on intuit site in order not to owe capital gain taxesYou owned the home for a total of at least two years in the fi...
John Schnyderite
Renting still worthwhile?
I bought a condo for personal residence 5 years ago. It has dropped in value as most have seen in that time. My wife and I are now looking to buy a larger home. We are able to qualify for both mortgages, so we are ...
Daniel Campo
Loan documents question
Hello,So I may be inquiring a SFR from my parents. The SFR has no mortgage but my parents did get a HELOC from the property. They told me if I take over the expenses of the property I can have it. My question is, can ...
Joe Pitrolo
Tax Questions Notes, L/O
If you sell a mobile home on a note, let's say you have $3k in the property and you collect $1k down and a not for $6,500, sales price is $7.500, do you pay the complete sales tax immediately or wait till the note is ...
Account Closed
Should I buy my parents home?
Hi. My parents want to retire but they will not be able to make ends meet with their mortgage. They owe $325,000 and their house is currently worth about $725,000. I have my own mortgage (owe $235,000) , but my parent...