It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

Even if the rate is a little higher under the HomePossible loan for the R/T refi, we could look at options to eliminate the monthly MI, either by buying out the mortgage insurance in one lump sum or financing the cost of the MI into the rate on your loan (LPMI). 

Then it's a case of waiting until everyone has paid and do a process of elimination. 

:(Are there NOI improvements you can make, eliminate expenses, improve turn over (lower it), reduce damage etc etc. 

I don't currently have any business entity/LLC, so that would probably eliminate the option of implementing a consulting contract and charging a fee for services. 

This will suspend your net passive losses and carry them forward to a future tax year and eliminate the net passive loss allowance on page 1 of your 1040. 

Non agressive breed dogs or your insurance company may cancel your policy.A Pet fee is free money.I make all my properties pet friendly by eliminating carpet.

They pay very little property tax as the home was purchased a long time ago and isn't subject to the normal rates.The question is, is there a way for them to keep their current house, pay off / refinance the existing mortgage or get another heloc in a way that would eliminate the need for the windstorm insurance, rent the house out, and get cash out to buy (mortgage) another property?

As long as at the end of the exchange you purchased at least as much as your net sale and as long as you used all of your cash proceeds in the purchase you will defer all tax.Supplementing with cash to eliminate debt is a very sound late market strategy when interest rates start to climb.