The PM should be an expert on state law, and they should have policies and procedures in place to handle these situations.

You do not need to take on new debt for the $450,000 reinvestment unless you choose to do so for other financial reasons.If you have further questions or need clarification, feel free to ask!

"Good about deductions" sounds a lot like "doesn't make enough money to be a homeowner", so he should keep renting from someone else, and you should do what you're going to do with the money and wisdom you earned.Of course I don't know your son, but I think this is too dicey and you are too close to the situation.  

They just plug you into the conveyor belt of webinars and canned training that doesn't take them any time to create, but also isn't tailored to your specific situation. 

Hi,I have 200k saved for an investment property, and my wife makes 450k a year in business income from her s corp small business.What are some of the best options for my situation?

Retain a cash reserve to cover vacancies or downturns, and align with your long-term goals by consulting a financial advisor.

In similar situations @Nick Am, keep us updated on your findings.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

The financial and social extent of this disaster (initially estimated at $50B) is underestimated by at least 5-10X.

The key is to ensure the HELOC doesn’t turn into a long-term financial burden if the partnership doesn’t pan out.