We negotiated a purchase price of $50,000, recognizing the quick resale potential.

Alternatively, consider a cash-out refinance to access equity without triggering capital gains or explore a 1031 exchange to defer taxes by purchasing another investment property.This post does not create a CPA-Client relationship.

Secondary would be for all of the clients, "Gators" who follow his program and use it.MAJORITY of the clients don't even have a little capital, enough to fund the first EMD deal and come back to the group for funding.

I'm a experience property manager that is taking on a client with 10 medium term furnished properties for management.

@Philip Jones we've helped our clients do over a hundred.As some of the lenders posting have pointed out, the challenges are:1) Property value and corresponding loan size2) Appraisals have much better comparables than 5 years ago, but may still be an issue.3) Property condition can be an issue via the appraisal4) Ownership seasoning - most lenders looking for 6+ months or incredible documentation for cost of improvements made.5) Most DSR lenders require professional property management.Always try a small local bank or credit union, but most will expect you to transfer your business bank accounts over to them. 

If this was overlooked, consider seeking a second opinion to ensure no missed opportunities.This post does not create a CPA-Client relationship.

Alternatively, transferring the property to a revocable trust provides income for your parents, avoids probate, and keeps you as a beneficiary, but it doesn’t allow for a 1031 exchange and could trigger gift tax.Focus on aligning the structure with your goals, whether for immediate reinvestment or estate planning, and ensure compliance with Connecticut laws.This post does not create a CPA-Client relationship.

good luck  Here in Boise, I have a client, he is having an ADU put on his property this week:1 br 1 ba, 448 sq ft. 32 feet long, 14 wide.

I assume the reason is that the owner is 100% focused on their own property whereas the PM is only partially focused on it because of other clients. 

When I do it for me and my clients, we go very conservative to give better expectations of the transition process, than if it goes better, great!