All Forum Posts by: Christopher Hill

That would be great. Ty 

I have tried to read as much as i can to understand this. But I have a few lingering questions. I am buying a triplex in PGH. As I am using a VA loan I am going to occupy one of the units for the required time. I work in the oilfield so I'm only home a few days a month and was going to try and air B&B my primary unit while I'm not home. I have read that may make me eligible for bonus depreciation, but how does that work if I'm only using one unit as a short term rental/primary? I have looked everywhere and have not even seen this discussed.

I guess my other motivation was when I was self employed before. I had an LLC so I felt like it made the write offs more self explanatory. I'm very good at keeping receipts and justifying purchases of things for business purposes. To me that's half the benefit to being in business. Would being an owner op sole proprietor make writing off tools purchased vehicles etc more murky?

Couldn't the bank call the loan if I move deed into LLC name? And I believe PA has some tax liability for doing that?

I am buying a multi family in the Pittsburgh area using my VA loan privilege. Since it has to be in my name is there any advantage to forming an LLC and leasing the property to it so the LLC can manage it? I was thinking for easier accounting and the ability to clearly Write expenses off. I intend on occupying the property long enough to meet my requirements then refinance and do this again. I'm still a baby bird here.