However, that inheritance tax is still owed and is a lien on the property even though IT IS NOT RECORDED ANYWHERE!!!

Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Tax Preparation, Tax Advisory, Accounting.

It can be done ethically, but you need safeguards to confirm mortgage & possibly property tax payments made on-time, as well as insurance with you protected.- Also, you need a legal way to take back the deed if buyer defaults!

@David R Pustelnik recommend you first focus on raising the rent for the first time in 10 years.By the way, how much have your property taxes and home insurance gone up since this tenant moved in?

But, you still own house and benefits are as follows.1. tax benefits2. principal payoff on your note.3.

Closing costs - you will have to pay taxes/stamps etc. typically as a seller.4.

We've had some success recovering money owed, and we've seen it on credit reports.Recently a former tenant attempted to co-sign for another prospective tenant.

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip.