This is my 1st time with 1040 and rental.a) Is it possible to list the closing costs under any expense item - eg. commission. I bought the house so technically didn't pay any agent. I also took a no-point loan but I s...

So I am about to put the master bedroom (with bath) in my home (of 3 beds 2 baths) to Airbnb and I am confused about all the tax-related stuffs. Let's say my home is 1500sqf on a land of 6000sqf, and the whole master ...

Here are the facts on this potential purchase: (2) adjacent properties, (2) deeds, owner wants to sell them together.

First Property: (3) units
Gross Rents $1625 per month
Water/Sewer: $600 per year (approx.)
Insuran...

Hi,I'm currently investing with a friend who has the property under their name. We are looking to avoid as much tax as possible as we are planning to flip. From what I gather is that incorporating allows us to pay les...

So my first tenant is moving out after 9 months. I put my add out to fill the vacancy that’s coming up and have been getting a lot of interested and good quality tenants lined up to come look at the house.However one ...

A thought occurred to me. What if when buying as part of the negotiation you offer to pay the seller's closing costs especially real estate commissions for an equivalent reduction in price?It would not affect how much...

Hey BP,Just got my first triplex that needs some reno before I can open for business. I'm living in one of the units. I set up a seperate bank acct. Now I need a book keeping software, what would you all recommend. I'...

Hello, so I own a 2 unit property, I live in one unit and rent out the other. I bought the property in 2022. We renovated the unit the tenant is living in and spent 35k. I pay the the water bill and pay for the intern...

Hey everyone. First post... :)So I have a question about how to properly handle the bookkeeping and finances in a business. I have a few ppl that are interested in borrowing money from me for real estate purposes, but...

After multiple calculations on multiple duplex properties in start of my investments, I have noticed I wont be cash flowing. Occupying 1 unit and renting the 2nd unit has only equaled out the tenant paying a good chun...