Our firm is planning on starting a Portal (legal term) next year on our roadmap because with $5M as the new threshold this really can move the needle for certain projects and sponsors.  

Tenant gets their deposit back when their lease is officially/legally over.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

That is until the neighborhood got tired of the parking and parties from the venue, and got it shut down.

.)✅ Return all keys, garage remotes, and access cards✅ Provide a forwarding address for the security deposit refundLandlord/Property Manager Responsibilities✅ Conduct a pre-move-out inspection (optional)✅ Take photos/videos of the property’s condition✅ Verify all keys, garage remotes, and access cards are returned✅ Check for unpaid rent, utilities, or damages beyond normal wear and tear✅ Hire a cleaning service (if needed)✅ Complete repairs and maintenance (paint, flooring, appliances, HVAC, plumbing)✅ Change locks if required by state law or property policy✅ Test smoke detectors and carbon monoxide alarms✅ Review lease terms for security deposit deductions✅ Send tenant security deposit refund (minus any deductions) within the legal timeframe

@Roger Kim If your friend qualifies for the Section 121 exclusion, he can exclude up to $250K of capital gains, but gifting you the proceeds won’t legally avoid your tax liability.

That is because practically all motivated sller leads are people in the process of being forced to sell a home due to legal pressure.

CA is brutal when it comes to taxes.I don't give tax or legal advice, but many people believe that holding the property in your name and having a good umbrella policy is a good solution.

The next part is to get a contractor(s) in the door to give you estimates on rehabbing the rest of the place to get it to rent out.

I’m currently leading a luxury condo project in Cabo San Lucas and looking to expand my knowledge in real estate syndication.I’d love to hear from experienced professionals about:✅ Best practices for structuring a successful syndicate✅ Key strategies for raising capital effectively✅ Navigating the legal and financial aspects of syndication✅ Lessons learned from successful (or even challenging) syndication experiencesI’m here to learn and connect with like-minded individuals who have expertise in this area.