Use a quitclaim or warranty deed to transfer the title, and be prepared to pay Chicago’s transfer tax, calculated at $7.50 per $1,000 of the property’s fair market value.

I think you should be paying about 10.5%-12% on average right now, 1-2 points as well, and some lenders will not even need an appraisal.

Do not forget to prepare the balance sheet, track distributions etc.

They know the different neighborhoods very well and understand the market.

Petersburg for over 30 years, I can attest that the last two big hurricanes caused significant damage, but they were the first in a long time.Condos and townhomes tend to perform well, especially if they're located on the Intracoastal Waterway or within 3-5 miles of the beaches.

We are still using some towels after 7 years of use as well as all the sheets since we started.The key to those is washing them right.

Also, if it's Lennar, be prepared for problems, insulation issues and therefore paper thin walls. 

Some IRS agents may still require filing Form 1065 for 2024, so be prepared to file for this year before transitioning in future years.For Question #3 on Form 8832, you are correct that it asks whether the entity has more than one owner.

They don't communicate well, don't take responsibility for their actions, do not clean or maintain homes well, and will shaft you when it's time to leave.Other than that, it's a pretty good system.

Hi everyone,I’m considering becoming a landlord for my property in Indianapolis, and I want to make sure I’m fully prepared before diving in.