I am understanding I can convert Operating Partner Units in an UPREIT to REIT shares (taxable) but the benefit is I can sell any percentage of the operating partner units, paying taxes on only that percent I sold.A friend that is a bank auditor, specializing in commercial real estate said:operating costs should total about 30%, leaving NOI 70%For us business people NOI in real estate is EBIDA (T left out as Taxes are an above the line expense)Any know, does the DST have to produce audited financial statementsSo now I feel I am better equipped to work with the RIRep and tackle the recommended PPMIf you really follow the track record of when these multi family unit being purchase and sell, average holding time is 3-4 years so you pay the premium in there and that's why how DST sponsor makes money.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

We try to help them as best we can, but then our name gets trashed when they don't get their paper results - because you know, EVERYTHING is the PMCs fault.

My research has resulting in understanding that REP status can be used to take losses in STR property against other active/non-passive income (such as w2), however there is a qualification of material participation. 

If you have ever learned something important by trial and error, then you can probably understand the frustration that you feel when you make a "rookie mistake" or a simple error that creates a big negative result.

Let them do the follow up and paperwork and maybe lead cleanup, but you do the dialing and talking yourself for much better results.

Past performance is not an indication of future results.

The answer is clear: allowing full renovations without mandating sprinklers results in a far safer building than one that undergoes only superficial updates.Furthermore, requiring sprinklers in more buildings will likely increase costs even further.

This could result in a bad tenant and thousands of dollars lost via eviction.It's better to have a vacancy than a bad tenant.

We use AI for appointment setting and follow up and it has resulted in a 30% increase on deal flow.