Hello BP community!I recently used HELOC from my residence to purchase a rental house. Seller accept offer at 10/20, but it looks closing date will after 1/1/2019. Obviously, HELOC interest start from Nov., there are...
When rehabilitating or investing in the rehabilitation of an eligible historic or non-historic building, you may be able to take advantage of one or both of the historic tax credits: 1) Historic Tax Incentives and 2) ...
This post is meant for my accounting colleagues - an invitation to debate, basically.Let's consider scenarios.1. (clear) You buy a rental with a $100k loan. Two years later, you refi into a new $100k loan with better ...
Hello,I know there were similar questions already asked, but I would like to ask this specifically:1/ Can use HELOC from my primary residence to buy an investment property and be able to deduct HELOC interest as busin...
Hi All,I want to confirm if I understand tax implications of a rental property correctly. The biggest confusion point for me is if rental income is taxed on gross income or net income (I think it's gross?)Here's an e...
Hello,I am starting my quest into investing and renting multi-family units. I wanted to get your opinion on expenditures. I know I need to compensate for electric, water/sewer, property tax, garbage, vacancy %, repair...
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This is a general question for those with more accounting experience.I am trying to build a "rental resume" before sitting down with local banks and I am wanting to include a profit and loss summary for each of my ren...
I am hoping for feedback on how to best represent a major capital expense for a small apartment unit in terms of it's performance. The overall expense will be somewhere around 150K. That would include the decision to ...