The current loan balance is $235k with a 5.12% interest rate.

However, they include "bad boy" carve-outs that trigger full recourse if the borrower commits certain bad acts like fraud or voluntary bankruptcy filing.Abandonment may constitute default: If the GP abandons or surrenders control of the property during foreclosure, it could be considered an unpermitted transfer that violates the loan agreement and triggers the guarantor's full recourse liability for the unpaid loan balance.

We are now seeking advice on how to protect our assets while owning the properties in our own names, without incurring excessive costs that could lead to negative cash flow.We are open to exploring creative solutions that strike a balance between asset protection and financial stability.

Ensure that you are using a rent payment software program that records and categories rent and money charges and payments, including dates, payment amounts, and balance owed contemporaneously with the transaction.

You are just trying to balance your revenue with the increased expenses of operating this business.  

I'm assuming that also goes into assets on the balance sheet?

Instead of fearing a crash, we should recognize this period as an opportunity for the market to regain balance and for potential buyers to find more reasonable pricing.

It's your first property, you may hold it, you will probably sell it, find a healthy balance there.

Scaling in this business is extremely difficult and stressful as you balance that line of bringing on more properties so you can afford to hire more people while already being overwhelmed by the properties you currently have.

This ordinance is significant for its comprehensive approach to addressing source-of-income discrimination, particularly in the context of housing and rental opportunities.Key aspects of this ordinance include:The creation of a $1 million Landlord Risk Mitigation Program to financially assist landlords who accept tenants with vouchers, such as Section 8.Establishment of a landlord liaison position within the City’s Housing Department to facilitate communication and support.Landlords are allowed to deny rental applications based on individualized assessments, such as criminal convictions, credit scores, and eviction history, but the ordinance also sets clear guidelines for what can and cannot be considered.It includes a delayed effective date, allowing time for landlords and tenants to adjust to the new regulations.The ordinance also specifies that certain properties, particularly older houses that cannot easily comply with current codes, are exempt from some of the source-of-income requirements.The guidelines provided by Kansas City's Ordinance 231019, detailing what can and cannot be considered in rental applications, include several notable points aimed at balancing the rights and concerns of both tenants and landlords:Individualized Assessment Allowed:Landlords can deny rental applications based on specific, individualized factors, including criminal convictions, credit score, eviction history, alleged damages, and rent-to-income ratio.