@Jefferson BlackJust make sure you have the proper COs, and it is in fact a legal Triplex.What is your exit strategy on this deal?

We do our best to keep the community a place for real people to exchange real ideas about real estate but it takes all of us to keep it functioning properly by doing our best, putting our best foot forward, and aiming to give more than we take.I've been here for years, as have many of my friends.

A proper valuation of the personal property may yield lower overall recapture tax.

If the bottom insulation of the home is torn and the skirting is not properly maintained, it can cause a host of other issues, like pest and moisture problems.Additionally, if the foundation is not sturdy enough, situated correctly, or on a concrete slab (permanent foundation), a mobile home’s support may sink slowly into the earth over time.

@Marcus AuerbachIf u have an hvac person only taking half a day to swap out a new heat pump and central air, and do all the proper evacuation and testing, they are on speed.

You should work with a CPA or tax professional that can help you with structuring your business properly first. 

It’s also possible to have a negative net worth, which means your liabilities are greater than your assets.Examples of assets that may be included in your net worth include:Business interests Cash and savings Investments Personal propertyReal estateRetirement savingsVehicles Examples of liabilities that may be included in your net worth include:Credit card debtMedical billsMortgagesPersonal loans Student loan debtVehicle paymentsNet worth is very easy to calculate: You add up all your assets and subtract your liabilities.The net worth formula is:Net worth = Total assets – total liabilitiesHow to Select a Net Worth TrackerYou can choose from several net worth trackers to help you monitor your financial position.

Create a short, professional explanation of proper/improper use.

It’s up to individuals though, to get serious and learn things properly.

Moreover, working with lenders to refinance successfully is crucial to making this strategy work.BRRR isn’t a get-rich-quick scheme, but it’s an excellent long-term strategy for building wealth if executed properly.