And that would violate your tax payer requirements of the 1031 exchange. 

Hello AllI have a opportunity to purchase a 3 unit rental property. how should I structure the offer and what should be required in it.Does the seller provide a fee and clear Title with Title insurance, should the seller be required to evict the tenants before I purchase, what verifications or contingencies should i include. etc......ThanksJeff

.✔ Syndication (Reg D 506(b) or 506(c)): If you're looking at $1MM+ deals, syndicating investors could work—though it requires legal structuring.✔ Networking: Target high-net-worth individuals (HNWI), real estate groups, and doctors/lawyers/tech professionals looking for passive cash flow.3.

To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.

In some instances the estimate may be less important but rarely if ever do I not see a requirement for no appraisal unless the value is 4x the loan amount.

@Adam BartomeoGuys the IRS requires the 1099 amount to be equal to the GROSS amount you collected on behalf of the owner, even if you are collecting water bills, etc. from tenants.NOTHING is deducted from the Gross amount,including your PMC fees!

.: As mentioned by others above, require your cleaner to remove all refuse from the property, including anything in the bins, every time they visit the property.

Many require that you keep funds separate from personal funds.

On public websites, I see some options to acquire a duplex in central Los Angeles under $550K which would require at least another $50K of work if I do not outsource most of the labor.

If the permit wasn’t required, I wouldn’t have pursued the replacement at this time.