Juggling between work and personal life can be tough, but having a property manager can take some of the pressure off and let you focus on your other priorities

Fast forward 2 years his landlord mentioned in passing he might sell the property; I was the first person on his mind.

What RichDad does not tell you is that it takes a driven personality to build a portfolio and if you have that type of personality you will not enjoy a retired state.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Choose a goal so ambitious it forces you to grow into the person who can achieve it.

Take into consideration that when the person you gifted the property to will have special tax considerations as well 

You are correct… if a person has 600k and they can afford to risk it going alone in a new country and that’s what they want to do with the money then why not go it alone.

If it's a consultation with him personally - it should be very valuable.

As of October 2024, 75% of remote work employees now have some sort of in-person work requirement, up from 63% in 2023 (Source).

This is our boilerplate language:Insurance: Tenant should obtain a renters’ policy of insurance on their personal property.