John Bucknum
first deal/mobile home park?
HI all, just getting started, looking for first deal. I found a MHP locally FSBO, it is 34 units over 7 acres, city water, with septic tanks which owner claims to empty yearly. asking $800k, brings in $91k/year, accor...
Joe Ferguson
Developing acreage for duplex new construction in East Texas
I am in the beginning stages of planning out developing a 5.5 acre tract I just purchased for building new construction duplexes and was hoping I could get some good advice. A little background on the area: it is in...
Samson Oni
Seller not fixing issues after inspection
After inspection we ask seller to fix few vital items like the heat wasn't working. But the seller is not willing to fix it but asking of we can take credit. What do you guys think? Can I ask for credit up to the amou...
Chris Y.
Help! What can I do? Attorney screwed up title and other things?
We have used the same attorney for a few purchases and recently came to realize he screwed up many things. 1. He failed to find out there is an open permit on the house. The previous owner applied for a permit to expa...
Luka Milicevic
Engineering nightmare
Hello BP nation.It would be my luck that the first off market deal I put under contract that I got from direct mail would be an engineering nightmare. This is for a new construction and we have an issue with the sewer...
Marc Ramsay
Fire damage - can & should I bill the tenant?
I got the phone call yesterday that every landlord dreads "there's been a fire!'.
A tenant left something on the stove and went to check on her child in the bath, and a fire started on the stove. The mother and child...
Shane W.
Replacing grass with drought tolerant plants for free?
So I came across an article on a company in Los Angeles that is ripping up lawns and replacing them with drought tolerant plants. It's all backed by the government so it's apparently free and they take care of it all ...
Alexis Zion
How do I deduct, in this year, a Heating Systems for my 8 unit building
Hi AllMy Central Boiler in my 8 unit building died March 2014I had a central boiler and converted all the units to individual forced air units in each apartment (they now control their own heat and pay their own gas b...
Jim Hamrick
Reasonable Number of Maintenance days on Vacation Rental?
The IRS discusses vacation home maintenance days. They use examples where a family performs maintenance on a home for a week and the week is not considered personal use (it is additional to the 14 days of personal us...
Adam M.
Settlement and Plumbing Concerns
Hi All,
I am under contract on a property in Jacksonville, FL and there are a few concerns I have now that inspection has been completed. The inspector noted that this property has a settlement concern with a few cra...