All Forum Posts by: Melanie Nash

screen and background check if you can. Unfortunately they can be the cleanest law abiding citizens like I have but from the first month they have been late paying my property manager so they get warnings but in Florida hard to get them out if they have children. I will not be having my property manager of same tenants next year. And no children just working couples. Watch your back and good luck. 

Thank you all for great advice.

Hi Eric I am frugal and good with my money. I rent the house for 1100 a month and pay 110 a month for now to a property manager which was ok at the time till I lost my job. I will not use them after contract ends. I have American home shield on both houses for major problems with HVAC etc and roof life is good. I have never done taxes as this is first time having two out right. Sorry if I sound a little bit dumbfounded I'm not as savvy as you guys. 

Troy the rent goes into a separate account but soon i will have to start using it for taxes and insurance on both houses and my living expenses.

I do have a healthy savings account that is making zip for interest but I do not want to dip into it or trust stocks. I am a brick and mortar person.

Idon't know what a retirement vehicle means. I just have them both in my name free and clear. I just need to know about explaining it for my taxes. Thanks

hi all. I had a settlement some years ago and bought a big house in New England free and clear then  with savings and a bank loan against the big house I bought another home in Florida for 70k now  worth over 100k. I then sold the house up North paid off the bank loan and bought my second  house in Florida for 100k. Which Iwas able  to rent within a week. I had a nice steady job but lost it last week. My real question is can Ilive off the earnings of my rent and what tax ramifications could there be? Finding another good full time job here is like winning the lottery. it's  not that i dont want to work but there must be away I ddon't end up having to pay taxes on top. See guys n girls I am good at investing but always had a job. Sorry my Iphone acting up this  morning. 

New to this. I own 2 houses outright in Florida. I live in one and rent out the other. I have a property manager who takes 10% a month.  I was working full time till last week then unfortunately lost my job. Question, can I live off the income. I currently pay insurance and taxes and am up to date but without my job income I will have to start using the rent income to survive till I get another job which in Florida is hard to get full time.  Any answers appreciated.  Thank you.