What is the best way to track rental income and expenses?

I am about to rent my house and need to know which is the best way to keep track of the rental income and any expenses related to the rental property. How do I provide a receipt to the tenant when rent is received? Does anyone recommend renting a p.o. Read more

What qualifies as a rental property for purposes of capital gains?

I remarried and moved out of my house four years ago. My son remained there until recently. Now I’m ready to sell the house, but do not know if the house would be considered a rental property, since he paid no rent, or would it be considered to have been Read more

What percentage of equity in a rental must you have to qualify for another loan on a primary?

Is there a ‘rule of thumb’ for how much equity you must have in a potential rental property to qualify for a loan on a primary residence property? We’re having trouble selling our townhouse, so we’re considering turning it in to a rental. We do have some equity in the Read more

How can i foreclose on 1 rental property without effecting my house?

I have 2 rental properties with the same bank. I’m thinking to foreclose in one of them and keep the other for longer.How does it effect my second rental property and more importantly, does it effect my primary residential property or my bank accounts?

What happens if you have a rental and it gets foreclosed on?

What happens to my current home when I let a a rental property go into foreclosure. The rental property was our original home. We had to move out of state for work and purchased a new home here. We have rented our old home out. What happens to our current Read more

What is the minimum down paymentrequired for rental property to get good interest rates?

What is the minimum down payment rental property? Also if I will purchase rental property such as an aprtment building and live in one of the units and rent out others will that be considered rental property. What is the best way to go about financing this with arround 15-20% Read more

Whats the difference between home insurance and rental insurance?

for my rental property? Is it a good idea to switch home insurance to rental insurance when a tenant is living in my rental property just in case if they smashed some holes on the wall, or some damages on the property?

Thanks!

How does rental property affect your income to debt ratio?

We have made an offer on a new house. We are considering turning our current house into a rental property and are extremely confident it would rent quickly.

I guess my real question is this: will the rental income "wash out" the debt owed on the house, or when we Read more