This is especially true for private money loans, where lenders may want a clear picture of your assets, liabilities, and cash flow.Your credit report and tax returns are crucial, but a well-organized financial statement can strengthen your loan application, showing lenders that you have a clear handle on your financial situation.

@Zehua Zhou,You can use a Fidelity non-prototype account to manage the rentals, but it will have some of the features available with the bank's checking accounts, such as having a debit card, mobile deposit, and bill pay.

In my personal opinion, I wouldn’t be as worried with some of the niche items, like a surround sound system, smart features, sauna.

It’s a bit complex, so working with a 1031 exchange expert and a tax advisor is crucial to make sure everything is done correctly.

Crexi Pro has added features to their platform and the data is getting better, but it's no Costar yet.

However, it's crucial to verify with the specific lender, as policies can vary.Regarding recording a lien, if the lien is recorded, it formalizes the debt and provides legal protection for the lender, which might be required by your private lender.

The IRS typically requires the same entity that performed the 1031 exchange to continue owning the property to maintain tax deferral.To avoid any unintended tax consequences, it’s crucial to consult with a 1031 exchange expert or tax advisor before dissolving the LLC or making any distributions.

These improvements included updating key interior features, enhancing curb appeal, and addressing any necessary repairs.

I’ve heard that some platforms offer features like automated payment tracking and secure document storage.

Additionally, I modernized the interior and upgraded key features, ensuring the property not only looked better but also met the needs of tenants.