In fact, even with my extensive experience, I choose to have all my properties professionally managed.Here's why:Tenant Selection Is CriticalThe most valuable service a property manager provides is selecting reliable tenants.

When I asked why this was caught earlier, she responded, "Based on the timelines you provided, we had a team fail including me...

Therefore, I would like to work with an experienced reliable property manager I can trust and work with.

I do not trust her, plain and simple. 

Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

How to Track Regulatory ChangesStaying up-to-date might seem daunting, but the right strategies and resources make it manageable.Key Resources:Local Government Websites: These often publish updates to zoning, rental, and housing codes.Real Estate Associations: Organizations like the National Association of Realtors (NAR) or local landlord associations offer regular updates and seminars.Newsletters and Blogs: Subscribe to reputable legal or real estate blogs for insights into upcoming changes.Professional Advisors: Build relationships with real estate attorneys and property management professionals who can provide guidance tailored to your market.Pro Tip: Set up Google Alerts for terms like “rental law changes” or “landlord regulations” in your area to receive real-time updates.3.

Quote from @Dave Allen: Quote from @Zeke Liston: Quote from @Dave Allen: I'm in a bit of a situationMy wife and her parents are selling a duplex they own together.My wife is trusting me to re invest into cash positive investments.We could stand to take as much as a quarter million, and tax free since we lived in the property 2 of the last 5 years.What are some suggestions for markets that would provide cashflow?

He teaches them his method, lets them handle the planting, and trusts the process.

Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.

There is the trust, and the trust has a continuity of control plan.