Miguel Garcia
Almost complete with my first flip do I need a business account?
I'm purchased my first flip last month and am almost done with the rehab. I'm already in a purchase agreement to sell and am set to close the first week of July. I do not have a business entity set up and want to know...
Grant R.
Adding Meters in Fort Wayne Indiana
Good afternoon BP family! Can anyone walk me through the details of separating utilities at a MF rental in the Fort Wayne, IN area?If you've done a house-to-MF conversion or simply upgraded an existing rental propert...
Sateesh Kumar
Three SF vs Three homes in one lot which one is better?
Hello,which one is a better option?Three separate single family homes vs all three homes in one lot? What are some pros and cons.Thanks
Wesley Myers
Bank Accounts for STR’s? What do you do?
Been reading a lot of different scenarios for bank accounts with rental properties. Wanted to get your suggestion on my specific situation. Just purchased our first STR condo here in PCB. Have $10k in reserves for re...
Rob Cucugliello
Financial Organization - LLC or not?
Hi all!Hoping for a little guidance here. I am small time but growing. I currently own 2 SFH rentals but will soon have 5 rental units within 4 properties, plus a 5th property that I'll be flipping (to build additiona...
Mark W.
Structuring accounts
At the moment I have separate savings accounts set up with a single bank. Some of the savings accounts are personal, while the others are what I would consider "business" savings accounts: property tax escrows for...
Collin Schwartz
Filing 1099's when properties are owned in individual LLC's
Question: I own all my properties in separate LLC's. When filing 1099's for contractors (paid over $600) do they get a separate 1099 for each LLC?
Jim S.
Air conditioning Thermostat setting for duplex
In a DUPLEX upper level has control of thermostat for air conditioning. What temp settings do u recommend for home/away . Upper unit pays for the electricity for the air conditioning. There is 2 separate electricity...
Matt M.
Need some MF advice please!
Hey guys, I’m looking at a 3 unit this afternoon. I only own SFRs, and this place is fully occupied. 1-1bd, 2-2bd. No estoppel available, not much information available. 1 tenant says has a lease, 1 no lease, 1 “think...
Justin Sumulong
Handling funds for different rental properties
When one owns multiple rental properties, would it be recommended to have multiple checkings/savings accounts for each property or can more than one property be handled in one set of checking/savings accounts?I unders...