We have had it as a rental for 5 years now and have had only 15 days of vacancy. 

Once it's placed into services as a rental, the property taxes will be a rental expense.I agree with Gregory above and speak with the company he has his mortgage with.

I have known and worked with Matt for years.I have attended his training and hired him as a consultant.He is hands down the best at what he does.I have personally raised over $50 million for my hard money lending company.I am grateful for a lot of people who helping me with this success and Matt is at or near the top of that list.

Your looking at this really cool and unique position your in, and focusing on it as a problem. 

Let’s say you own 1/2 of the $700k property as a TIC and can do a 1031 easily.

Encourages Larger Investments: By offering higher returns at higher tiers, you incentivize investors to allocate more capital to your projects.Builds Long-Term Relationships: Investors appreciate being rewarded for deeper commitments, which helps foster trust and repeat business.Scales with Your Business: This structure can align with the complexity or scale of your projects, ensuring that you have the resources you need while staying competitive in the market.Key Benefits to InvestorsSecurity: Deals can be secured by tangible assets, such as a deed of trust or promissory note, providing peace of mind.Flexibility: Payments can be structured to suit the investor’s needs—monthly, quarterly, or upon project completion.Attractive Returns: With returns starting at 15%, investors often see better yields than traditional investment vehicles, like stocks or mutual funds.How We’ve Implemented ThisThis structure works particularly well for our large renovation or development projects where multiple investors may be involved.

If you want to think about it as a math problem, it’s all about where you put your time to maximize returns while also factoring in what you enjoy doing.Picking the MarketI’m the kind of person who gets analysis paralysis.

I googled it and found this:If you rent it to tenants, you would treat it as a rental and report it on a Form Schedule E.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

If you are investing from out-of-state you want to make sure whoever you are going to choose to work with is being honest and transparent not just about the Flint marketplace but about the strengths and weaknesses they face as a company, day in / day out.