It’s relatively simple and, while it does cost money, it’s one of the more cost-effective options.

With your background as a physician, you’re in a strong position to get into long-term rentals and even the storage space, both of which offer steady income and relatively low maintenance.

However, there was no formal agreement or contract between us regarding the ownership or any financial details related to the property.

As far as owning a real estate related business, residential assisted living is hands down the highest and best use of a residential home, especially since you can achieve financial independence from one home. 

It's a relatively small town and a lot of us run into each other as we do business. 

From my understanding the 15-18% IRR promoted by syndicators generally does not include these tax benefits either, so it is still a fair comparison.AssumptionsI had to make a few assumptions about the property and mortgage interest rate:Property value = $180,000Rent = $1680Mortgage Interest Rate = 6%I also made assumptions related to other costs such insurance, taxes, property management, maintenance, capital expenses and vacancy.

The house is the estate of a deceased relative, and their son is the trustee of the estate.

Hello all,What do folks use as lease generators and reference material for other rental-related forms?

Specifically, we'd like to understand:Liability Protection: How does each state's legal framework and case law compare in protecting our personal assets from liabilities related to the property?

Single families in relatively good shape in Cleveland are around 90-120k with 1% or better rents.