Real Estate Services

I build new houses and remodel existing ones to own and rent out. During the construction process I have expenses uncommon to managing rentals. Even though I take no salary and do as much work as possible on each project, we still have a negative cash flow. After adding up the losses and deperciation, it offsetts my wifes income so we get all of her taxes back. Based on rental rates in our area, we calculate that it will take about 3 years for a property to break even. So we should be turning a profit in tax year 08. To take full advantage of the tax code while depreciating the buildings and then selling them in the future, Is there an advantage to holding these properties as personnel investments or should I form a business that builds and manages real estate?

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I am filling out a form for a rental application and they want my bank name, account type, and account number, but not the balance. Also they ask for my full social security number. I know that this paperwork will just get filed away. They say its for reference reasons, what should I do? I don’t want to be denied.

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I got a ‘rent arrears’ form from my rental office. They say I owe $1150.41 and if I don’t pay it in 5 days they’ll take me to court. However I do not owe such amount, I have all my receipts (I pay in money order), etc. Now I don’t want to go to court and I don’t have/want to pay the $1150.41 what do I do? Any help would be greatly appreciated!

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I had an accountant do my taxes last year, and they came up with the depreciation schedule in Part III of the form. Where does this property go this year? Part IV? And what do I use for my basis of depreciation? The original amount, or the original amount minus what I deducted from my taxes last year?

Thanks in advance.

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does anyone have a spanish month to month rental agreement? please?! If you have one in english its aswell..!

thansk in advance!!

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