Car and home payments

[Lights 56]

Hey everyone,

We just recently had our petition approved for the K1 visa. With that, I'm trying to get everything sorted before the interview date as people have warned me that things go by quickly and before you know it you're on your way to be with your honey.

I have a condo that I'm looking to rent out. Does anyone know what the tax implications of having a condo and being a out of country landord is like? I put down over 20% when I first purchased it and own the majority of my home, but I still have a bit of a mortgage. I do not want to sell and it's not really an option I want to consider for a few years. I may rent it out to a family member or I may rent it out to a stranger. If I do, my brother has volunteered to help be the local point of contact for the home. I may consider putting him on the title of the condo right away, since it'd be consider a investment property for the both of us.

I also have a car payment for a new 2013 SUV. My mom is in the market to buy a new car and she asked whether I'd be willing to give the car to her and she'll just make payments on it. I originally wanted to bring it to the US, but since there is still financing on it, I realize it's more difficult to do that. Can I keep the car under my name, insure it under my mom, and she can make payments on the car? I got a really good trade-in value for my old car and the finance is 0% and something my mom hasn't been able to find right now.

Thanks!

[Flames9_RN 358]

good questions to ask at Serbinski tax forum: http://forums.serbinski.com/viewforum.php?f=2