Hello! I want to turn out first home to a rental property but needs a new roof. For tax purposes later, can we claim the roof? Do we need to be making cashflow in the property to claim the roof under depreciation each...
I am selling a duplex that I have owned and used one unit as my primary residence for many years.For tax purposes I have claimed percentages of space as either rental or my main residence.What might be done in a 1031 ...
Seeking informed opinions on the best tax avoidance strategy...I own a SFR in NoDak. I purchased it ($265,000) in 04/2022 for #2 son to live in while he attends college. I have been deliberately managing it as a ren...
I have looked through the forums a bit but couldn't find an answer to my specific question. This might be a silly question with an obvious answer but I over-think everything, so I was hoping some of the great minds of...
Have anyone file on their insurance for lose of income on their rental property and how long of lose income and when to file with your insurance company.
Looking for someone out there with some Canadian tax experience. My wife and I purchased our first rental property in 2016 and are wondering who should claim it on their taxes (Everyone files individually in Canada, ...
I'm a landlord for a Davenport property, and I've been served a complaint for an injury claim by a neighbor who claims that a dog owned by my property's renter bit and injured her back in April 2022. The defendant's ...
My wife and I had an offer in on a short sale. Long story short, the bank eventually accepted and we were moving forward. Two days after the end of the inspection period, I found out I had to move out of the area fo...
As I begin my real estate investing journey I am constantly looking for ways to mitigate risks associated with buying rental properties.One thought that crossed my mind was, "Does insurance cover the costs of repairin...
What are your opinions about buying rental property in a flooding zone? I rented in one area and it survived through Harvey - the street was flooded but the water never made it to the garage. However, the area is in a...