All Forum Posts by: Kris Scott

I just had a chat with my sister and she states that I have to live in the home (that I plan to rent out) for at least 2 years... before I can actually rent it out to people. Isn't this based on the agreement of the mortgage contract?

Very new at this so I apologize for anything that doesn't make sense.

Hi all,

I live in California but looking to buy an apartment with a 20% down in Vegas.

Ultimately, I'd like to rent this place out to people on VRBO/Airbnb.

Any tips or advice would be greatly appreciated as I don't want to run into any legal trouble.

Thank you!

Hi all,

I'm considering buying an apartment in Vegas, putting 20% for the down payment. Am I able to rent out my place as soon as I buy the property? 

I don't want to run into any legal troubles by renting out the property to tourists.

Thanks in advance for any response!

I've recently formed an LLC in California. I want to make sure I understand this tax payment thing properly.

For Federal taxes, I know that there is a $800 minimum annual franchise tax in addition to LLC fees based on annual total income.

For State taxes, we have to submit sales tax payments to the BOE depending on reporting due dates that they indicate.

Are there any other tax / payments / fees I'm missing aside from the above?

Thanks.