William Thomas
De minimus Safe Harbor
Hi everyone - I purchased my first property last year and I'm starting to put together my taxes for the year. I purchased the property in May and repaired it over a couple of months before placing it into service in J...
Clarens D. Philippe
First time multi family rental buyer looking for financing idea
Hi - Hope all is well with everyone! I’m am a first time home buyer. Under contract looking to purchase a multi family rental in upstate NY. I can’t house hack and make it a owner occupied rental so all my options are...
Daniel Rozen
Notice of Default from Lender on Second Home used as temp rental
Hello all,I'm in need your advice on how to handle the situation i am currently in.A year ago we purchased a second home in FL and rented it out right away. To be honest, we were thinking of at least partially spendin...
Leonard Rybak
Attorneys for Offers?
Hi, I am currently looking for single family homes for approx $100k-150K. I make offers using a realtor and then they send me everything to sign and submit my offers to sellers. And these offers if accepted become leg...
Bruce C.
Rental Accounting Question
Good morning BP
Im attempting to keep accounting for our first SFH rental. We acquired the property oct 6th and have performed some repairs. The problem im having is the money we leveraged for property purchase and r...
Robert Stamper
Expense Tracking Software or Spreadsheets. Best Solution?
Hi All, My Wife, @Sarah Stamper is a flipper starting on her second property now. She does all her flips in a single member LLC to keep our taxes nice and simple. I was planning to get her set up with QuickBooks a...
Derek Caffe
Estimating Rehab Costs on Small Multifamily Properties 2-4 units
Hello BP Members,Can anyone explain how the rehab costs differ for small multifamily properties versus single family homes (SFH)? I purchased the BP Book on Estimating Rehab Cost, but considering it's focused on SFH, ...
David M.
Financing newly cash purchased property
We sold an investment property and put $ in 1031. We have a deal part 1031, part cash, for two triplexes. Would a bank finance one triplex 30-40% with $2300 rent income so we could finance renovations to the other 3...
Nick Nelson
Collecting Old Unpaid Rent
Is there a statute of limitations on collecting rent ($5k+) from a previous tenant? I have not actively pursued collecting this unpaid rent on a tenant who moved out last year. But I now have access to a collection at...
Isaac Peters
Seeking advice on how to hold ownership of a flip property.
Hello BP community! I am under contract to purchase a single family home that I intend to flip. I am looking for advice on how to hold ownership of this property.I run a contracting business which I own and operate un...