We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

He is correct that you NEVER take the security for last month's rent for that exact reason.

You need to ensure it’s a good deal for you regardless of tax benefits. 

The tenant is going to leave no matter what you say, so you should figure out how to let them go while ensuring there's no loss of income.I suggest you remind the tenant they are contractually obligated to pay rent and other costs until a new tenant is found.

If it sounds too good to be true, then make sure that you take the necessary steps to ensure your own safety.

A lot of the time, the HML 2nd secured by the high equity primary residence would end up getting paid off in short order with via a HELOC, so there'd have to be points in it upfront for the HML for it to make sense.

Negotiating with the seller was straightforward, leveraging the property's condition to secure a $50,000 purchase price.

Then if at the end of whatever time you have agreed upon, if the tenant still has not left, you can get the Execution to move them out.There are programs out there that may assist the low income tenant with first last and security as well as some moving expenses at a new apartment.

@Noah SchulzThe previous owners' failure to disclose a back-paying arrangement complicates the situation, potentially leading to tenant disputes or security deposit concerns.

Some opt for private lending to avoid this tax and still have investments secured by RE.