Investment Property in Murrells Inlet, SC

This page is general information, not legal, tax, insurance, or investment advice, and I do not tell anyone whether a property will make money. Rental rules, tax law, and insurance change, so please confirm what applies to you with your CPA, your attorney, your insurance agent, and your lender. I am a real estate professional, and my part is finding properties, pulling the facts, and handling the purchase.

Georgetown County imposes a 3 percent local accommodations tax on accommodations furnished to transients, including a residence; rentals to the same person for 30 or more continuous days are not counted as transient. The tax is remitted to the county Finance Department by the 20th of each month, or quarterly or annually when the average monthly tax is small, with a return even in a month with no rentals. The county says it does not issue or require business licenses. As property tax, a rental is assessed at 6 percent: tax district 41's tax year 2025 rate of 248.8 mills comes to roughly $7,464 a year on a $500,000 house.

Lenders require flood insurance on a federally backed loan for a building in a Special Flood Hazard Area, and the South Carolina Wind and Hail Underwriting Association is the market of last resort for wind and hail in the coastal territory. The IRS treats advance rent as income when you receive it, and personal use beyond the greater of 14 days or 10 percent of the days rented at a fair price limits your deductions. For a Section 1031 exchange, identify the replacement within 45 days of transferring the property you give up and receive it within 180 days or by your tax return due date with extensions, whichever comes first. My investment property page has more. Call me with your budget and goal.