All Forum Posts by: Jeremiah Dunakin

I was faced with same scenario but in Michigan ina 100k 2 bed 1 bath. The humidity got so bad in the house the floors would get wet and puddle up. I lived in unit for a couple months. It was miserable. We had a couple window units that took care of the pooling water but it was still hot.  We had an ac installed for 5800. HAVENt ran it yet but I’m glad we put it in. I don’t want tenant to mess up windows with window units

I’m not very experienced. I just got my first rental on the market after 11 months. That said what kept me out was fear. 
1.Getting sued 

2. Not getting perfect deal/analysis paralysis 

3. Actually finding a renter 

4. Stuff breaking 

I’m new to real estate. But is the 2% rule basically you need to rent property for 2% of value of property. So a 100000 house should rent for 2000$/month. If so sign me up. I’m getting 1000$/month in rent on a 100k house and might be a bit low. But no one in my area could afford to pay 2k on an average 2 bed 1 bath house. I make pretty good money on my 9-5 with unlimited overtime and I couldn’t/want to swing that. Maybe I’m confused on what actually the 2% rule is

Thank you all. 

I bought my first rental property in April last year in Michigan. I paid 85,000 for it. It needed more work than I thought. I did not rent it out until March of this year. I stayed in it as a primary residence for two months. Here is my questions. 
1. I put in a 5700$ central air unit as it didn’t have one before. Am I able to count that on taxes. 
2. I remodeled kitchen and bath as well as put flooring in and did a lot of painting cabinets and such will I be able to write that off?

3. I did most of the work myself besides some electrical and hvac. I purchased some tools to do rest of remodel. Will I be able to deduct them as well?

4. I ended up putting up around 15k into property. I never rented it out last year. My questions is am I going to be able to deduct this stuff? 

I have an appointment with accountant but I’m nervous. What say you guys

It looks like Kingston got what they voted for. Voting has more ramifications more now than it ever has. There is a price to pay at the polls. It amazes me that people vote and when they get what they voted for are mad about it.there is no secret agenda both mainstream parties are mostly up front on thier intentions. Vote for a party that is more in favor of tax breaks don’t complain when they give out tax breaks to “the big guys”. Vote for a party that is favor of more government spending and hand outs. Don’t complain about prices/inflation

Wow thanks everyone for the info. It really helps get my mind focused. I appreciate it 

So I am half way handy. I can do a lot of basic plumbing and electrical things.My question what things am I allowed to do? Can I change out flickering light switches? Run new plumbing lines to faucet/ tub. The rental I have I remodeled by myself and lived in it for awhile. I gutted bathroom and kitchen and remodeled them. I did have electrician do some wiring for me. I had them install some new outlets for me. Can I change out existing plugs and outlets or fix cracked pipes. I live in Michigan 

Return the deposit. Wish person well. Times like this it’s time to sympathize and be a cool human. Tenant did no wrong, but has a lifetime of thoughts and emotions. 

3 layers of shingles is a lot. In Michigan we are allowed 2 layers of shingles I believe. I would probably have those three layers removed. Dayton gets some snow. That’s a lot of weight to have up there. I could be wrong. That is labor intensive to get that many layers removed and disposed of. I think 6000 sounds a bit low and would be careful. In 2008 when no one was working I had a 1200sq ranch with attached garage redecked on house and spot fixed on garage with new chimney spout installed. That was 6500$. Good luck just be careful about going to low on price