And consulting with a local attorney to ensure compliance with state-specific real estate laws, plus making sure you have the necessary permits, is a smart move.As you start, also look into state-specific rules regarding contractors and renovations, especially if you plan to flip in different states from where you reside.

Enforcing the termination of a lease due to non-compliance (unauthorized resident) is not the same as ending a month to month lease. 

That seller will tell you anything to get you to buy that property but I can assure you there are better deals than this.

Consult with a tax advisor or attorney familiar with both partnership law and real estate to ensure compliance and minimize tax liability.Once under a TIC structure, 1031 exchanges for individual members could allow them to reinvest proceeds from the sale of properties into new ones without triggering immediate capital gains taxes.

Additionally, if you’re not local, requesting photos or videos of the problem can provide clarity before approving expensive repairs.For the lead paint testing, it’s important to determine whether this is a compliance requirement or a proactive measure.

We aim to balance thoroughness with fairness to ensure compliance.

There's a lot more compliance, regulations, and other protections that many brokers do not feel comfortable hiring just anyone. 

In the meantime, check with the city’s planning or zoning department to see if there’s any way to bring the property into compliance as a legal triplex or duplex.

If can't transfer the rental into LLC and there are compliance costs associated with maintaining it you might consider shutting it down.

Compliance costs can really make it though for a startup if you don't intent to explode.