This can be a game-changer, especially in neighborhoods like the South Loop or near revitalizing areas like Pilsen, where property values are expected to rise.Improvement Exchanges: Recent IRS rulings allow you to use exchange proceeds to make improvements on a replacement property while still qualifying for 1031 deferral benefits.

**"Cash for keys" is a strategy that landlords can use to encourage a tenant to vacate a property without having to go through a formal eviction process.

Your best bet is to ensure that there are no material modifications that would in any way harm or even moderately delay the ability to rent it out and qualify as a normal SFR (one lease, one family) or sell on the market to an owner-occupant

As you build a track record of successful flips/rehabs, you'll typically qualify for better terms, like higher leverage/reduced down payments.

For individuals that qualify for this, they can use their rental property losses to offset their active income.

I have to deny this family who is otherwise likely very qualified.

Since you can't make improvements or exchange into property you own, your qualified intermediary would take title of the property while you  make the improvements.

I have done a formal inspection with the lease but I give the tenant a checklist to fill out with the least when they move in so they can document anything that is broken or needs repair.

If a deal doesn’t qualify, our coach personally explains why and offers guidance.

However, rental real estate activities in which you materially participate aren't passive activities if you qualify as a real estate professional.