So if loan due in say 3 years you would need to create 600k in 3 years or sell the property.With limited years left on lease for primary you would need to start saving big chunks of money now because buyer will want higher cap rate to purchase.

@Michael Anderson you have two options:1) Create an Assignment of Lease from you to LLC2) Have tenant sign new Lease with LLC.Really only an issue if eviction or some other court issue.

There’s something incredibly rewarding about creating spaces that positively impact people’s lives.  

Your rehab budget of $120,000 (which seems reasonable for a full gut) is also in line with the value you’re creating.

To avoid these, create an operating agreement outlining roles, responsibilities, financial contributions, and handling disagreements.

My goal is to create generational wealth for my family and to eventually have the financial freedom to say "yes" to travel adventures as a family.

It was just something neither myself nor my husband could really work with and so it created a dependency on our bookkeeper.

You cannot transfer the 1031 exchange benefits to another property, and gains are deferred, not eliminated.This post does not create a CPA-Client relationship.

This modern home is part of Griffin Modern's mission to create affordable, high-quality residences within walking distance of downtown Griffin.

Hi @Pratyusha ThundenaI would suggest creating a free profile here https://investorlift.com/Then find the area in Alabama you are interested in.