Is there a way to write off operating expenses for investment property?
Opinions expressed by Entrepreneur contributors are their own.If they haven’t already, your relatives should speak to an accountant who is familiar with accounting procedures for investment properties. Not all accountants are comfortable with this area.
The reasons their write-offs are (supposedly) limited may have little to do with their income and more with the way in which they are writing off the property. Creating an LLC or corporation to own (not just to manage) the property is usually a better idea as another shield of protection against personal liability.