All Forum Posts by: Tyler Wagner

Has anyone had bats in their rentals? I have a duplex with both tenants reporting bats in their respective units. I have scheduled a bat inspector to come out and inspect the property. Both tenants have left the property for the time being. I am just curious how you handled it and what steps you took and if you had any legal issues? Thanks!

Thank you Jonathan and Michael! Both very insightful and helpful! I will look over publication 523 and 121. Also, interesting points in regards to the 1031 exchange. I may need to hold it for a while.

Do either of you know of a good real estate accountant in the Michigan area or remote by chance?

Thanks again!

Thank you for the replies! Unfortunately, since I will be moving out into one of the duplex units, I will have only lived in my primary residence for 17 out of the required 24 months. If I understand the IRS code section correctly (must live in residence for 2 out of the past 5 years), I could potentially move back in (for 7 months) after living in the duplex for 1 full year.

My hesitation to doing this is that I believe this summer will be very competitive still and I will be able to sell my house for a very large gain. From listening to the podcast and following the market trends, I dont think it will sell as high if I wait.

Is there a way for the capital gains tax to be prorated or do I just have to suck it up and pay Uncle Sam? Thank you!

Hello!

I am a first time house hacker. I will be closing on my duplex soon with a fha loan. I will be renting out my current primary residence and moving into one of the units of the duplex while renting the other side as well. I am thinking about the idea of selling my current house later in the year and will own only the duplex.

I am curious if anyone has some insight into how the capital gains taxation would work since the house I might sell will no longer be my primary residence. Are there strategies to avoid this? Thanks!