Think areas that survive on tourism.

Hi everyone,  I am at the end of my first gut renovation.  It has been a journey.  I don't have construction experience.  The house was out of state.  And I did not have a team in place.  This sounds like a recipe for...

I am more worried about a tenant who makes $140k a year and spends $4k a month on rent.When you make good money you don't need to follow everything by the books to survive financially. 

(Also, the self-directed inherited IRA could hold the real estate it purchases in an LLC.)True, you can't get the special benefits available to a surviving spouse who inherits their spouse's IRA -- e.g., treating the IRA as their own, doing a "spousal rollover" to a new account, and not being required to take minimum distributions until their required beginning date.

Yet, I barely survive thanks only to the pandemic era low interest rates and tax abatement.

The numbers" from a cashflow standpoint will mean different things for different people.Personally, I won't get out of bed unless I can earn a 15% net cashflow ROI yearly on any deal.Any appreciation I consider just the cherry on top.Granted, I wouldn't complain if I had some major appreciation on any rental since the time I started investing in 2011.Also, you can't really live/survive off the appreciation unless you tap into a HELOC.You can however always live/survive of the cashflow.Just my opinion.Thanks 

Gratitude: The book opens with Sam Zell discussing the challenges and risks his parents took to survive the holocaust.

They fell behind and the 1st lien LENDER filed for NOD and NTS - Notice of Trustee sale and it went to the TRUSTEE SALE X-XX-2023 where the property was SOLD to a Third Party BIDDER for $375,000I assume under this SCENARIO - the 3rd PARTY bidder who purchased the property at the Trustee Sale Auction 8-23-2023 was buying the property involving the action being BROUGHT to the TRUSTEE SALE AUCTION  by the 1st lien DOT lender and that the SUBORDINATE $101,500 2nd lien Held by HUD may have received any (some) OVER BID funds but utilmately was WIPED OUT at the Trustee sale Auction...Thus their 2nd lien Goes away...Do not believe that the SUBORDINATE DOT lien to HUD survives the Trustee Sale unless they BID to protect their juinor lien interest.

The cost basis is advanced to the date of the death for the surviving spouse. 

Does the plan protect not just the surviving spouse but your children inheritance also?