He claimed that the market had changed since the fall of 2023 and that he could no longer go through with the original deal unless we reduced the assignment fee by $15,000.

Starting smaller might help you gain confidence and reduce potential stress.In your situation, if you're comfortable hiring a property manager to handle day-to-day operations while you’re working in the oilfields, going for the 4-plex could make more sense, especially with your high income.

. ;-) Asking tough questions reduces their revenue.

Changing the name allows you to retain all the current accounts and credit history while ensuring the LLC reflects your new purpose.If you're concerned about privacy, consider changing the name while also updating any public records to reduce the chance of someone tracing the LLC back to its original purpose.

This would allow you to keep the property in your portfolio and generate ongoing income.From a tax perspective, holding onto the property as a rental would let you take advantage of depreciation, which could reduce your taxable income.

It's like posting dynamic collateral that doesn't actually reduce the loan balance, not exactly a great deal.When the fed raises rates, they are directly targeting actors like this.

Husband and I are considering buying his parents' home and I have some questions about this and would love any feedback on how to minimize hassle and our costs. We're doing this for two main reasons: 1) Prevent his da...

Instead, you’ll use Form 8949 and Schedule D to report the sale, but the gain should be reduced by the Section 121 exclusion.

Whenever you subtract inventory and reduce the housing stock you get the adverse effects you'd expect.  

With the Self Directed accounts your leverage IS more limited, but ALSO your risk is reduced due to that lower leverage and non-recourse type of loans.