It seems like a win-win, especially with the simplified approval process and flexibility for multi-generational housing.

Smart investors first focus on finding quality properties—such as those in thriving areas of Brooklyn or potential neighborhoods around Manhattan—and then reverse engineer the process by improving management, optimizing rental structures, or enhancing facilities to make it worthwhile.

We worked him through the process, brought him a contractor, and gave him all the resources along with giving him tips on layout and all.

I began the renovation process by enlisting the help of a relative and some of his friends to gut the interior.

Hello Anique,We still have it up for sale while I go through the rentredi processes I will turn it into a rental while the land lease gets worked out.

That said, we understand that insurance details can sometimes be complex or overlooked during the decision-making process.

Either way if the balance is 140k, without going through the short sale process (which will take a few months) no one can assure you of any approved sale price.

Quote from @Andres Lasaga: I am in the process of selling a property to the tenant I have been renting the house for 4 years.I want to outsource the promissory note collections and reportsIt would be only ONE property, for now, any recommendation of a company that can manage the collections and reporting?

You should follow all the same processes you would with a LTR, including the lease.

The Initial Filing:Any existing business not excluded must begin to file in 2024 via the FinCen network filing process.