We found out about the fake mortgage when reviewing title work in preparation of closing with an end buyer.

It is testing my patience and persistence.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

He said that we can not use past rental losses to offset 2024 W-2 wages using the real state professional status (we pass all the IRS real state professional test) since we got married this year and not last year. 

Effective risk management ensures the sponsor is prepared to handle challenges and uncertainties.Practical ImplicationsEffective sponsor underwriting can significantly mitigate risks and enhance the likelihood of project success.

Me , I want to preserve my credit rating , ( and money ) if things go south , the best I can . ( Hasnt happened but I do prepare ) My suggestion , consider selling your primary where you live and move to Florida .

Challenges like unexpected renovation costs and tenant turnover can arise but with proper preparation and management, you can achieve great returns.

The 20 year certification requires each of your properties to pass the 2 year dust swab tests AND pass a lead x-ray gun test. 

Ensure you are engaging your CPA or tax strategist experts to help with tax planning for your portfolio and understand that this is a different service than your standard tax preparation.

Lots of stuff happens during a sale and if you are going to have rentals, be prepared for even more problems.