Hi @Brian Person, Levi T.

Our lease spells out a "re-rent levy" of 3 months rent for breaking the lease.

@Ray Jimenez you need to include all of the holding costs (taxes, utilities etc) as well as the realtor commissions and excise taxes once you sell it.

After the assessed value is calculated, the tax levies are applied.Here's an example for Kansas City:MARKET VALUE Market Value is the amount the Assessor has determined your property is worth on the market.

@Levi Bennett,I'll tag @Jim Workman for you.

I love Florida for investments, especially the Marion and Levy County areas.  

Basically a TN LLC is liable to Franchise tax ( 3% of taxable income )  and excise tax  ( .25 % of homes' value ) to be paid annually.

You should be very aware that if you transfer property into an LLC that you could trigger the "due on sale " clause and have lender accelerate the loan...another issue to be concerned with is the potential transfer fees possibly levied on mortgage balance depending on your location.I think you should look into purchasing the investment property in a land trust which not only provides anonymity, but also gets around the two issues I mentioned above.

When we walked them through the numbers, what they would have to pay to sell (commissions, excise tax, clean up home, fix insulation under house, etc.), they realized they weren't getting what they thought.  

Unless its 'legal' the Bldg Inspector(s) here consistently shut down the other units & levy the usual fines.