If you buy less or take cash out you will pay tax on that amount. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Take ownership of your mistake and learn to do the proper due diligence recommended above😊 Wow!

And are insured properly.

So while that’s a great asset you pay more for it typically.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

This strategy balances tax efficiency with proper estate planning.

Also, most Umbrella Policies only pay out if your underlying policy pays out, and the underlying policy will do everything they can to find an exclusion or that you were negligent (which you probably were) in the cause of action to get out of paying the claim.

I don't think you should pay a premium for the furniture but that's just me. 

Most commercial lenders do not require any seasoning for that entity which means that you can create an LLC and use that entity to purchase the property immediately as long as you have the proper documents.