It’s standard practice and an essential safeguard for landlords.Trust your instincts and treat this as a non-negotiable policy.

Essentially the lenders will be taking a risk on the property if they overvalue it.

(Excluding FEMA insurance claims)We recently sold a home we foreclosed on in Georgia and I am pretty sure they had a specific form for disclosure of insurance claims we had to complete (my associate did all the paperwork but asked me about the form). not sure if it was fema or not.The form if there was one was optional, because Georgia is a Caveat emptor state.

If there are any books, podcasts, or resources you think are essential, please share them!

It's essential to clearly define your goals.

👏Regarding subcontractor contracts, it’s essential to have a well-thought-out document to ensure clarity and protect all parties involved.

Quote from @Miguel Del Mazo: Quote from @Jonathan Greene: Quote from @Miguel Del Mazo: We have 3 2/1 condos in our portfolio that attract traveling professionals (medical or otherwise) and a triplex that we essentially BRRR'd down to the studs.

Lauren Lauren, there are hundreds of syndications (and crowdfunding deals which are essentially the same as syndications but are available on the Internet) available each year.

It sounds like you have a lot of experience in this space, and I'm always interested in learning more.I think one takeaway is that this is a difficult asset class to own and operate, and just like @Jay Hinrichs mentioned, having a great team is essential!

Accurate records of all expenditures are essential to claim deductions and calculate the cost basis for future capital gains taxes, including depreciation recapture.This post does not create a CPA-Client relationship.