All Forum Posts by: Lakshay G.

Hi there,

I am almost done rehabbing my first rental property and I wanted to ask whether there are any new content being added in the rental lease. Thank you in advance. I am trying to get as careful as possible.

thank you everyone. I really appreciate it. 

Hello there. 

 I have two questions. 

1.  I bought a property towards the end of 2017 and started rehabbing it and now it’s almost done and will be ready for a tenant next week.  Will an accountant know how to perform tax write off‘s as in 2017 only expenses occurred no income, if it helps I purchased it as an investment property and paid 20% down. 

2. My current small business accountant who I believe is not an expert when it comes to rental property investment Taxes.  Of course if I approach her and give her the details regarding my purchase of an investment property she would say that she has many rent rental property accounts and she can handle it, but somehow I want to get the rental property taxes done from an accountant who is a real estate in messenger himself/herself.   So my question is, can I get just the rental property taxes (a certain schedule?) done from a Real estate investor accountant and turn that in to my small business accountant as she will be filing my personal taxes as well as small business taxes. I tried my best not to confuse anybody, I hope I can receive some help. 

Thank you. 

@Brandy Summerlin Thanks for the Input. Just wanted to verify that when you mentioned to get the property Lead Certified, the contractor is doing a full paint job but isn't "certifying it" ??? The contractor is telling me to hand the Lead Paint Disclosure to the tenant. Do I need to pay somebody else to make the property Lead Safe as making it Lead free is very costly.

I have another great mentor who I am working with and I'll ask her the same question.

Thank you so mmuch@brandy

Your post cleared up a lot of foggy areas. Can I ask you what you meant by SEALED 10 year smoke detectors? Do you mean hard wired? Or do you mean the detectors won't need a battery replacement for 10 years and simply be replaced after its lifespan? I'm going to buy carbon monoxide detectors as well as smoke detectors tomorrow, would you be kind enough to share a certain product if possible?

Rest I'll verify. 

Hi there.

I am a little confused in the wordings of Anne Arundel (AA) county website for rental rules and laws. I just acquired a 1950 town home in brooklyn park and not sure whether all rules apply to me or not. The AA county is mentioning ONE AND TWO FAMILY DWELLINGS Requirements. I think two family dwelling is a duplex but does a one family dwelling mean single family home and a town home or just a single family home? The house has paneling in living room as well as in master bedroom. I want to leave them as is as they are in excellent shape but if the laws apply to my property, I have to get them removed and have drywall installed. Just like I want to installed battery operated smoke detectors but I would have to install hard wired if the rules apply to me. I am sharing a link as well. The requirements are half way down the page. Thanks in advance.

Hi Juan, I know your post is very old. 

I'd assume you'd at least be able to get $1500-1600 range in that area.

 Very Interesting. I already closed today. I opted in to get higher liability coverage for now. I'd be interested to see other input regarding mail issue for sure.

@Richard C.

Good advice. Thank you.