All Forum Posts by: Zach Adams

That sounds wise. In the case of rejecting applicants do you see an issue with other applicants coming in? Such as if another person is “more qualified” then you need to document a reason. Thanks 

Hi all,

I am currently going through my first time finding my own tenants for my duplex. Currently I have two people applying and I have a couple who has been sent an application after requesting one. 

I use RentRedi software for this and know that the couple can apply I cancel the request. My question is: if I accept someone to rent when do I stop allowing other applicants? Is this after I sign a lease, get the drop is it to hold, something else? 

In the case of multiple applicants I accept the most qualified based on my requirements which I send to the applicants. This means that if someone else applied and is deemed more qualified they may put me in a bad spot. 

Wondering the above and if I should just notify other prospective applicants to avoid them paying to apply and having credit pulled? Thanks 

Hi All, I have a house hack which is a duplex. I rent out the lower unit and for the upper unit, I rent 1 of 2 bedrooms. I was told that I could only depreciate 8.6% (square footage percent of the upper unit) and only deduct repairs done to the rented room alone. Is this correct? I was under the understanding that I could do a room ratio and deduct 50% of the upper unit expenses due to all other areas being equally shared. If I am correct, does anyone know where this is in the IRS code? Thanks.

Hi All, I have a house hack which is a duplex. I rent out the lower unit and for the upper unit, I rent 1 of 2 bedrooms. I was told that I could only depreciate 8.6% (square footage percent of the upper unit) and only deduct repairs done to the rented room alone. Is this correct? I was under the understanding that I could do a room ratio and deduct 50% of the upper unit expenses. If I am correct, does anyone know where this is in the IRS code allows this? Thanks. 

@Jordan Sand I honestly doubt the have renters insurance as the tenant works for the owner and it was not stated on the current lease. Hence why I believe they are getting away with some things. 

That was my thought as he is a "service worker". 

I am currently in the market for a home to rent to my friends or other college students. The area I am located in has most leases beginning June 1st and most students begin to look for homes starting in December. I am wondering if I should focus on getting a house soon so I can guarantee the lease to start June 1st or if it doesn't matter at all? I currently have a feeling that I wouldn't want to pay the mortgage with it unoccupied, but I also want to find quality tenants instead of college students rushing to find a home before the first semester. Any thoughts? 

Turns out this is not possible. 

I am currently looking at a home and I found out that it is a land trust. The land lease is set and can only go up by $1 per year and they say that the house needs to be sold below market value and you receive 25% of the appreciation. Should I be concerned about going into this? It would make a really good rental and they don't say that you can't do that. Is there a chance that they can take the land back? Am I missing anything obvious? Or would this be a good idea to generate cashflow even though I will not be able to make lots on the appreciation after the sale of the home? 

Thanks! That brings a lot of hope.