All Forum Posts by: Denise B.

@Dylan Brown   Thanks Dylan - appreciate the detailed explanation!

Hi Dylan - yes I'm trying to learn how the costs would be reported for tax purposes. I just report on a schedule E (no LLC's or other entities involved). The costs would include attorney fees, zoning application fees, surveyor fees, etc and will likely be in the $10K-$20K range.

I have a duplex building consisting of 2 twin homes.  They have completely separate utilities (separate accounts) but are on 1 tax parcel.  The other buildings on street are similar but each twin is on it's own tax parcel and deed so they are independently owned and taxed.  I'm looking to sell the building and would like to subdivide so I can sell each twin separately.  As I'm exploring the process and associated costs, I wondering how these costs would be reported.  Has anyone been through a similar process?

@Bill B. @Dave Foster  Thanks for your responses!  

The property that is in my name is a duplex and we are also considering dividing it into 2 separately deeded townhomes so we could sell them separately.  I don't think that should cause any issues either since there would be no change of ownership.

Hi all - My husband and I are planning to do a 1031 exchange where we would sell 2 properties to buy 1 larger property.   The 2 properties that will be relinquished are titled in our names separately - one in my name and one in his.  We have owned them for 10+ years and have always included them on our joint tax return.  We planned to title the new property in both of our names.  Is there any issue with this approach?  If so, any suggestions on how to address would be appreciated.  Thanks!

I only do open houses due to the sheer volume of inquiries.  With the unit I just filled, I had 233 email inquiries and 17 phone calls.  I responded to all with a canned response that included the open house date/time and my application and documentation requirements (most were already in the listing).  27 parties showed up at the open house and 5 submitted completed applications.  The open house was definitely a time saver for me!

Thanks for the responses! I appreciate your feedback and best practices.  I don't mark up the application fees - I just pass the cost along to the applicant - so accepting applications is not a money making thing for me. With so many responses, I'm purposefully not talking to people ahead of the open houses - just sending my criteria and leaving it to them to opt out on their own, if they know they obviously won't qualify.  I'll plan to be transparent about the number of applications and if they choose to submit, that's on them.  I want to keep accepting apps until a lease has been signed and I have a deposit in hand.  Thanks again! 

I listed a townhome for rent in my very tight rental market on Monday and I've received well over 100 inquiries.  I've been responding via email/text with a link to my application and application requirements and the times for my open houses this coming weekend.  I'm getting a little concerned about the number of people that may show up.  In the past, I've received 20-50 inquiries and maybe 10 parties show up at the open house with 3-4 actually submitting an application.  I have no expectation that everyone will come but I do think there's potential for more than 5-10 applications to be submitted.  I have written requirements about income, credit score, etc so the applicants should be able to determine if they meet the base requirements on their own.  How many apps do you normally accept on a unit?  If you are running an open house, do you accept all applications offered during that open house or do you pause acceptance at some point to process the apps already received?

I second the recommendation for Capital One 360!  

Hi all,

I’m looking for recommendations for a good attorney to handle an eviction in the Lehigh Valley area of PA.  The property is located in Palmer Township, Northampton County.  Thanks in advance for your help!