Rental Basics in McKinney : Real Estate Advice

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dmorales09, Renter in McKinney, TX
dmorales09 answered:
Are the estates of McKinney in a good neighborhood and a good place to stay? Also is it close to the North Texas Job Corps?
We live in the Estates of McKinney, they are nice but have recently started renovating and the price are over $100 more than last year. The community itself is quiet and is in a quiet a ... more
0 votes Share Flag Wed Feb 26, 2014 Rental Basics in McKinney
T.E. & Naima…, Real Estate Pro in Dallas, TX
T.E. & Naima Sumner answered:
We just bought our first investment property. It's going to be rented out. Our realtor told us that IRS requires a separate bank business
Your CPA can advise you better, but basically, no.

You will need to track your expenses and income for the rental property, but nowhere is there a requirement to keep a separate ac ... more
2 votes Share Flag Wed Sep 30, 2009 Rental Basics in McKinney
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