Vidit Maini
Starting my small business
Dear BP family, I am finally on my way to start my small business. I have setup an LLC as a C corporation. I have the option of turning it into an S corporation. Year 1, I intend to keep my W2 job while i work to get ...
Davis Stoner
Tax Deduction's for investment property owner
Hello all,For the new year I wanted to organize my finances and maximize profits. I am currently reading Tax Free Wealth by Tom Wheelwright. Here is the situation: I own 2 properties in my personal name, but collect r...
Jens Nielsen
Rehab of 2 out of 4 units -add to basis or deduct as repairs
I purchased a 4-plex in 2016. Two of the 4 units were empty, so we did some repairs on those units (new carpet, tile and paint), plus we installed a new roof, repaired an exterior wall and fixed potholes in the parkin...
Michelle Curran
Cost Seg on a STR Reno all Self-done
Trying to determine if a cost seg study is worthwhile. Our purchase price was very low $225k and land value about 30% of that. We renovated property doing all the work ourselves so I'm not sure if we can factor in our...
Emiton Alves
What to look for in insurance policy in Providence, RI?
Hello all,
I am purchasing a multifamily property in Providence, RI. I have reached out to an insurance broker as well as gathering a few quotes from big name insurance companies. Would anyone have advice as to what ...
Matt Wells
How much money should I insure my rental properties for with ACV and $10K deductible?
I want to get the community's thoughts. How much money should I insure my rental properties for with ACV (actual cash value) and $10K deductible? Should I insure for the capital I have in the homes or for how much t...
Kelvin Lee
Earthquake insurance
Any one here covers there properties with earthquake insurance? Will any one consider getting one in the coming year?
Ashley Primate
Will renting free to children avoid taxes?
My parents inherited 50% of my aunt's property when she passed. The house is paid off, however it is in desperate need of some repairs and maintenance. My parents would like my family to move into it after the repairs...
Shad Rich
LLC Partnership Tax Deductions - Where To Deduct Shared Expenses?
I started an LLC partnership two years ago for rental real estate investing. The LLC currently holds two properties, one of which has been put into service. The properties obviously have their specific income and expe...
Nik Gernhard
SHST, De Minimis, Routine Maintenance Safe Harbors
I have looked through other threads here and elsewhere and still not able to find the answers to my specific questions.We are closing on a property soon and going to use as a short term rental. This is our first and ...