All Forum Posts by: Stuart M.

 I don't think asking how to account for improvements to an asset in one year before it was placed into service the next year is really that complicated of a question for your average CPA.  But I guess I could be wrong, now I'm getting concerned that I'm going to have to find a top of the line CPA because this is way beyond what average CPA's seem to understand.

I was aware that I could pay someone for the answer, thank you for taking the time to respond.

I guess when I get the answer I will share it openly so that anyone in this situation can have the information they need.

 What are you looking to accomplish here?

 Drywall labor was other people i paid, i know i cant include my own labor. 

 I think this is a pretty weird response to get on an open forum where thousands of people are sharing their knowledge on a diverse range of subjects for free but thank you for taking the time and contributing.

Would you give that answer to someone who asked about the 203k program? I mean, they could just read everything written by the FHA and figure out all the answers on their own, but its a shortcut to ask people who have already done so. And I guess people could say "I could tell you but I think you should pay someone to tell you instead" but i personally don't think that is the most friendly of responses.

I think people are just overwhelmed by accounting and the IRS, but I am not.  I just don't have the time to read the entire tax code to get answers to these relatively simple questions, just like everyone else here is doing with mortgage brokers, investors, etc.  I take time and answer questions, should I be charging people to share my knowledge and experience?

 I mean...I'm tryin here...

Look at HomeStyle mortgage instead, when we looked at both last year with the higher rate and PMI terms of 203k it made financial sense to go with HomeStyle instead, there might have been other reasons I'm forgetting too.

If I remember correctly, HomeStyle was 5% down, 203k was 3.5% down but 1.75% added to the loan one time PMI you will never get back, and you have to pay PMI monthly on it still, and its crazy expensive, something like $70 per 100k per month instead of $35 per 100k per month on the HomeStyle. I'd rather take 1.5% off the principle than lose 1.75% to the bank. And your payment ends up the same or worse even if you get a better rate!

I mean, if you can't come up with 5% instead of 3.5% you can go with it, but you're getting killed forever.

 SWS used to drive all the way to central florida to dump its trash from south florida.  That's why waste management bought them out.  What competition?

$725 for 30 yd, but you're going over the weight if you fill it.  Had a $1500 once.  South Florida.  Waste Management bought everyone up, they got that monopoly pricing going on now.

BTW - anyone want to be a millionaire? Start a rolloff company in south florida.  Sell to WM.  Rinse repeat.

 Heat is way more expensive in MI than AC in Miami.  One quick shortcut, look at government recommended mins for insulation.  Also, we have aluminum framed windows down here.  That's crazy talk up north with the heat loss.

Not sure how your building is set up, but did you increase attic insulation?  That was insane how much I saved.  If I knew then what i know now, I would have filled my entire attic (save a small space for air circulation) with blown in insulation up north.

Wait, $500-$800 TOTAL, not per unit?  In Michigan?  I remember $200-$300 gas bills in the winter in PA and WI.  On one house.

Say you get elec units installed, 14 of them at 2-3k each (cheapest I can imagine.) Whats your yearly gas bill?  How long will it take to get your money back, if you're assuming no one leaves, no rent reductions for adding $100 to each elec bill, etc?  Seems insane.

How wouldn't it be cheaper, if you were dead set, to get meters put in for each gas line?  Is that impossible?