All Forum Posts by: Mitesh Meswani

STR are not permitted in the subdivision, for this property we are seeking LTR 12+ months only.

I am looking for a recommendations for leasing and managing a single family home in San Antonio, Texas.  We are actively looking to lease in the coming two months and move away from self management. 

Hey folks

Looking to find a property manager that does both leasing and management services for two rental properties. Both homes are up for lease and I am looking for referrals. 

So if you don't have an homestead exemption the county can assess and charge based on the assessed value. You would need to file a protest to get the assessed value down. I have not seen 80% increase unless this was a brand new build and your property in the year got built was assessed just of the land value. In that  case the following year they will assess for the new home construction. 

I am buying my first property for rental investment. As per the rules of the lender since I am more than 50 miles away it can qualify as second home. This gives me interest rate of around 3.1% versus as an investment property it is 4%. I am planning to take second home option because of the significant interest rate savings

I will be renting it out all the time, so as per IRS rules its my understanding that for tax purposes I can qualify it as investment property. If that's true then I can deduct mortgage interest, any repairs etc as business expenses and can even carry over the loss (if rent - expense < 0) to deduct from other income. 

Am I understanding correctly, is there anything I should be aware of or ask the lender?