STR a suboptimal option in this market due to restrictive ordinances.Purchase price: $1,260,000 with 11% down @6.75% fixed 30 yrTotal Rehab costs (labor + materials) thus far: -$70,390Cashflow to date (NOT including Rehab Costs above): -$60,237Projected Cashflow: 3.1% with 3 LTR tenants Wanted the group’s expertise on options as I am considering parting ways with this property given the number of leaks that have come up in this relatively young property.1) In 2025, 1031 into another (potentially more units) multifamily at least 20 years old.2) Investigate leaks/Stabilize and proceed with original plan as LTR and accept uncertainty related to potential future leaks.3) Proceed as MTR (hospitals and NYC nearby) so that can intervene on issues during vacancy periods.

With interest rates as they are, and knowing they are probably going to start dropping over the next few quarters, is it best to wait on any kind of finance for a year'ish or are the rates not going to come down enough over that period to make a huge difference?

Also curious how others navigate our short term rental laws (seems like many property owners are advertising for periods shorter than the 14 day minimum) Also curious if many owners are actually paying hotel taxes to the county or waiting for more clarity on the law

If I own the property, your rights to occupy it should be limited to the legal lease that you signed, period.

I have an unfurnished property in Florida that needs to be furnished and ready to go for seasonal rentals for 3-9 month rental periods.

The IRS defines a repair as something that keeps your property in good working condition without significantly adding value or extending its life.

Should we begin the LOI phases before the 45 day selection period begins or wait until the 45 days starts to send out LOI's? 

When we buy a roof they see the expense in our income/expense data from Yardi and make the appropriate deduction to depreciate it over the correct time period for that filing year. 

It's always best practice to keep investors informed of all relevant information related to their investment (good or bad), both before they invest and during the period of ownership of the investment.

There are specific rules for 1031 exchanges including:The replacement property must be identified within 45 days of transferring the relinquished property.The replacement property must be received within 180 days after the transfer of the relinquished property or the due date of the taxpayer's tax return, whichever is earlier.Special rules apply for exchanges between related parties (defined in § 267(b) or 707(b)(1)).Real property located in the United States and real property located outside the United States are not considered property of like kind.Cost Segregation StudiesA Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.