In fact, a lot of lenders will actually give you a better rate for lower loan amounts due to the reduced risk of you doing a refinance.

Let’s break it down and explore how you might approach this idea, the challenges you could face, and ways to structure a deal that could work for both you and the landlord.Why the Landlord Might Be Open to SellingThey’ve moved out of state for health reasons and don’t have family nearby anymore, which might reduce their emotional attachment to the property.The idea of simplifying their life and pursuing something like sailing around the world suggests they could be open to letting go of the property if it helps them achieve their goals.With significant equity or potentially owning the property outright, selling could provide them with a substantial cash windfall to fund their future plans.However, their belongings on the property could signal hesitation to let go or simply a logistical barrier they haven’t addressed yet.

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

After selling one and using a 1031 exchange to buy a fourplex in Chicago, he reduced his interest burden by 20% while boosting his net incomes by $1,500 per month.

If you need to get it rented fast, a great property manager would list the home for $2100 (below market) and get several quality applicants competing against each other to drive the price up to the max so you don't risk vacancy by starting out too high and gradually reducing to find the sweet spot.

This can drastically reduce the property's value and cause unexpected headaches.I’m curious—what features do you prioritize when looking at short-term rentals?

To reduce taxes, offset gains with selling expenses (e.g., commissions, fees) and consider a 1031 exchange to defer gains by reinvesting in another property.This post does not create a CPA-Client relationship.

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating assetI would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.I sold my primary residence and I have several rental properties which I use as I'm fixing them up.What I'm pondering is living aboard and working aboard developing a new product, while traveling.  

@Stanley Nguyen Interest income from private lending is taxed as ordinary income, which can significantly reduce your effective return.

Stick to areas you know well; this familiarity can greatly reduce risk and boost your confidence when making purchasing decisions. 2.