I had a new tenant (roommate) want to move in same day. I said a Thursday move-in is what I'm looking for. I told this person that I would send them the rental application. They said they had people that could vouch ...

Here’s how that works:Depreciation is the act of slowly deducting the initial expense of an asset against your taxable income. Generally this is over a 27.5 (residential) or 39 (commercial) year time frame. So each ye...

There are hundreds of topics on this forum regarding tax strategy for LLC. When I talked to my CPA, they explained if I will classify my company with IRS as S Corp, then I will be avoiding paying self-employment t...

Good evening guys! So I wanted to share my story, first I have learned everything from this forum and want to thank this unique community for being so great! So I have been investing for 2 years and have mostly done h...

Hello everyone, We are planning to sell our house in San Diego, CA. We use it as rental for the last couple of years.We need someone to help us with all the tax implications that go with it. Who do we look for? Real E...

Hey everyone, I have a question about a duplex I'm looking at for a 1031 exchange. I have a house I'm flipping now, and will have about 55k into it, hopefully selling for 110-120k. I would really like to not pay taxes...

I have one rental unit (condo) in the Bronzeville neighborhood of Chicago (south side) and am considering purchasing several more, but this time to flip.  I don't see a ton of non-foreclosure closed sales on Zillow fo...

I am not sure if this the correct forum to start this discussion, so please feel free to move it as needed.I am looking for some advice regarding a 2 family property that my parents have owned for more than 15 years i...

Hello everyone. We are looking for a tenant for our first rental property. One applicant is a tattoo artist so basically self-employed. We asked to see tax returns and what she has reported as income does not meet our...

Lori here, I would like to purchase my first home under a lease option giving me time to save the down payment and clear up credit issues. Is there anyway being I am a newbie investor to make money on this deal as wel...