After reading the good old thread (LLC vs Umbrella Insurance), went ahead to buy the umbrella insurance policy for now. May consider LLC if I have more rentals later.
I want to share my rate with you guys because I t...

Hey everyone, I have a checking account I use to manage my rentals and other business expenses. I have positive cashflow on all my rentals so my balance in this checking account is accumulating but earning zero intere...

Hello Dear BPers,I am here again with questions. The rental property i have for the past 8 years was a disaster. First, all these years it was on a negative cash flow-meaning i was paying round $120 toward the mortgag...

Hello everyone, I hope y’all are doing well. So since rental cash flow/income is taxed by the IRS, would I be able to use my renovations cost as a tax deduction? Therefore it’s seen as a loss similar to if a property ...

I currently have student loans that the payment is based off of income(AGI). If I were to put my properties into LLCs that report up to a C corp where profits stayed and could be used to buy more properties, would tha...

Hello, I got 2 quotations from insurance company. Some coverage are higher then other and the premium are like $200 different. As I ahve very limited experience of insurance. I would like to hear your advise on which ...

We are currently living in a townhome, my wife is due to have our second child in a month or two. Hence we need a larger place.

I'm torn on weither I can rent out our current townhome or if I should just sell it. I ...

I am wondering if there has been any real solid resolution on this topic. My CPA has instructed me that the auto expenses (at least the proportion used for rental activities), overhead such as office supplies, sof...

I'm getting close to retirement and have 3 rental homes.  The least desirable of the three and the one that rents for the least amount is paid off.  The other two still have mortgages.  Can I sell the one that's paid ...

When figuring out expanses, one thing that eats away most of my profits is insurance, but I assume pretty much same number for any size/year property: $1000/yr for homeowners insurance and $1000/yr for flood insurance...