Jose Corbera
Documenting expenses prior to renting out your unit.
Hi Everyone,I recently closed on my first investment property and have contracted a painter to do the entire interior. I also have a different handy-man fixing up things here and there. The problem I find myself in is...
Matt Boerlage
Texas Operating/Management Agreement for single member LLC
Dear all, I would like to create a Single Member LLC to hold a long term rental property in Texas (I am living is Texas). Texas has no requirement for an operating agreement, but I would like to have one as I hear the...
Joseph Almeida
LLC bank account while being recognized as a S-Corp
I formed my business as a LLC in November 2022 my accountant then formed an S-Corp with the same business name in march 2023 NY state back dated my S-Corp to November 2022 I didn't know I needed to open a new bank acc...
Keith McCain
Multi-family experience help me analyze this deal
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Bomani Howze
Dual Agent Malpractice
A mother-daughter dual agent duo deliberate withheld my reduced counter offer so that they could maintain a higher commission. They also moved on to another offer before terminating my contract? How can I stop the new...
Michael Finkelshteyn
Pre-foreclosure list criteria: date of filing or date of auction?
Hello BP,I am trying find out what's more effective for pre-foreclosure list criteria: Date of foreclosure filing or date of pending auction?I would think the auction date has a sense of urgency whereas the the date o...
Samuel Kowalsky
Split use (personal/rental) for rental property - Depreciation
Thanks in advance for your time.I have a rental property that I purchased in 2018 and rented it out until July 2019, when the tenants moved out, and the apartment remained vacant for the remainder of 2019. At the begi...
Deadrick Colbert
S Corp Question
Someone asked me this question, and I did not know the answer. What happens is someone gets an S Corp for flipping but does not do any deals the first year? Does he need to file a return? I would imagine the answer...
Chance Calhoun
What are the taxes on selling my home?
Hello!My wife and I own a home in Woodinville, WA and next year will be our second year owning the home. We plan to sell and use the $500k exception to the capital gains taxes because we lived there for two years. Our...
Kristafer Nicaj
Can I benefit from a Cost Seg on existing multi-family once I have REP status
If I purchased a multi-family property in 2018 and my wife establishes REP status this year (2024), can I benefit from doing a cost seg on that property. I never did a cost seg in the past. I have been paying a lot of...