They stopped paying the lender and wanted to work something out with the lender but the time is running out (ie the management company did not do any significant improvement during the forbearance period) One of the LP just emailed me and said we need to raise 65k to enlist help from this company.

Quote from @Michael Daniel: Purchase price 70k currently renting for 900 ARV between 110 - 140k need about 25k in repairs in my opinion@Michael Daniel Do you think you can raise the rent after the finish the rehab?

Unless you want to continue having negative cashflow, you pretty much have to raise rents.

I don't want to only be an investor, I'd much rather be a GP and lead syndicates, raise funds, all the things I've been doing already with my recruiting agency.

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

For example, I hate to sell anything, but I am selling two properties to raise funds for a new primary that meets my goals.Study the market and really lock in what it will rent for.

I am strongly considering Philadelphia as a market to invest in OOS because I was raised in Jersey and I used to be familiar with neighborhoods in the city; I understand things have changed over time, however.

My duplexes already at market rent and only exsecting 3% raises each year.

How do you think the 2 relatives will feel about having their rent raised or being required to pay rent period?

Heck, maybe I’ll give the property manager (me) a 100% raise and an all expenses paid vacation 6 times a year.