Jon Mason
General Partnership or LLC
For purchasing properties (buy and hold) with a business partner (not my spouse) is a general partnership or an LLC the better choice?I've always thought an LLC was the way to go, but we were chatting with a lawyer an...
Joe Taylor
Tax treatment of a tenant requested remodel
Hello everyone,I'm seeking opinions on the tax treatment of remodeling in certain situations. For example, let's pretend I purchase a house for $90K, misc rehab is $10K, so I'm "all-in" rent-ready at $100K and adverti...
Jared Christensen
Looking for feedback to see if I am in the wrong.
I am looking for opinions of others to see if I am in the wrong or if my partner in a flip is. About a year ago my Father and I purchased a house. He paid for the house and I was to pay for the rehab and we were bot...
Sol Dubnov
deducting major repairs
We purchased a rental property and had to invest major amounts into repairs. The cost of the work is expected to exceed the projected rent income for this and may be couple more years, and we were hoping to recover th...
Joey B.
rehab sell reinvest profits?
Have a question I can't find an answer to. I just bought a house that I am planning to rehab and sell and hopefully profit enough to pay cash for another with those profits and then rent the second one. This is not...
Tyson Scheutze
SFR For Rent
Creating standards to get rid of bleeding heart syndrome…
As we continued to work through our renovation standards, we began to define our leasing standards. It was a very analog process, but, luckily, Natalie loved ...
Norman Scott Duncan
Sale of property within LLC
Three family members have owned a house for 10 years - always occupied by a family member. This year we placed it in a LLC (Limited Liability Company) in order to rent it for about 3 months of the year. Now we have ...
Doug G.
Help regarding upstreaming of income?
I am yet to make my first investment- but have been doing my homework and saving, and I'm "almost ready". I work in a secure, full-time employed position, and I love my job. To be clear, I do Not intend to quit anyti...
David Roberts
Structuring partnership exith with cash buyout
Seeking guidance on how best to exit a partnership mid-flip and the tax implications I should prepare for.Detail and timelineI bought a duplex in January for cash - standard closing with the buyerIn May I let a partne...
Raj Konda
builder sold the property to someone else. what do I do?
I used a turnkey provider to buy 'build to rent' multi-family house. We signed a purchase agreement with builder in Feb 2021. This summer, builder came back and said they need to increase the price by 10% due to incre...