All Forum Posts by: Monty Bruckman

Hi Duke,

Thanks for the reply! I appreciate the info and your perspective.

Hi Duke and others. I have a follow on question. I am an AZ resident involved in 2 syndications and my question is K1 and tax related. On one of my K1's, the syndication CPA firm provided multiple state returns in addition to the general K1 (1065). My CPA this tax season said I have to file state returns for all states included in the syndications K1 which is increasing the filing time, cost, knowledge, stress, etc. I called the investor relations representative (who is also involved in a previous syndication with the same GP) and they mentioned the additional state returns are only provided as supplemental material for those investors living in the specific states and I do not have to file separate state returns for states I do not live in. I have not received a contact for the CPA firm who provided the K1 to verify this information so I am trying different avenues to figure this out.

Do you have to file state returns for all states provided in the K1? Is this unreasonable and I should only have to file for the state I live in?

What is your experience with filing returns from syndications?
Thank you all for the help and I look forward to hearing back.

Excellent thank you. I will most likely use $100/unit/mo as a base number and if I decide to proceed, I will reanalyze as I gather more info. I will definitely use the above questions through my process. Thank you. 

Wow that seems pretty low. I would have expected at least 100/mo. Now is that 500-750 per unit or for the entire property?

Hello,

I've been researching different multi family properties and running the numbers and I am a little confused for some of the inputs relating to repairs and capex. Typically for a SFH I've used $100/mo for repairs and $100/mo for capex. For multi family, is it recommended to include $100/mo/unit for these costs or some middle ground? I've also seen 15% for vacancy, repairs, and capex all combined.

Thank you in advance.

Hello, I am in the process of closing on a home I am going to use as a house hack in Deer Valley Phoenix area. I am looking to rent out to a couple room mates and wanted some guidance on zoning. I have researched the zoning ordinance for the Maricopa area but I'm pretty confused. It is zoned SFH. I am also going to transfer title into an LLC so the property will be owned by a business. What are the general rules and guidelines to follow with rentals in a SFH neighborhood?

Thank you in advance.

@Greg M. what would you recommend? I reached out to a current owner who is renting out his property and spoke with him a little. He said it should be OK also but to check with the HOA. I am going to give the HOA a call on Monday. Anything specific I should ask?

Hi all, thanks for the input. Yes I will be living in the house and I am primarily targeting long term rentals. Unfortunate I can't utilize the str because of the hoa. The property title will be held in an LLC/corp so I'm unsure if that matters. Furthermore, it looks like if the property is rented, the entire home must be rented, but I can sign my own lease. I may have to get creative.

Hello,

Me and my partner are currently in the process of finding a house hack and I toured a townhouse with an HOA in Phoenix yesterday. The numbers work on the property but I am concerned I will have issues renting out rooms under the HOA. I will be "running a business, LLC" from the home but I will be the primary resident. I'm looking through the cc&r's but haven't found anything stating I can't rent out rooms.

Any thoughts on my concerns or recommendations to make my house hack/LLC in an HOA work?

Thank you!

Hi @Theresa Harris, I have someone in mind yes and that could be a great option. In addition to seeing brand new properties on the market, I might be able to see off market properties when they show up.