This will create your new basis.From an operational perspective, you might want to touch up a few things on the place to make it more rentable. 

Originally posted by @Jenna Waites:I know this thread is a few months old, but just FYI for anyone finding this considering Resimpli, the biggest issue I see with them is that their report options are TERRIBLE and they offer 0 customization to the metrics they do provide.On top of that they are a completely closed system so you can not pull your data out in any way to create useful reports or integrate with any other system.

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

This has created a "shared driveway" with the neighbor making an ugly curb appeal, not to mention cutting their lot in half.

What I wrote above does not create an attorney/client relationship between us.

I do recommend creating (and keeping updated) written policies for all of your leasing and screening process, and making them available to folks during the application and screening process (talking about, sending links to, emailing, & reminding, the more times they see it the better even though they likely won't read it).

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

I mean after decades of doing this myself well over 1000 lots created..

I suggest creating a list of questions that are important to you and start asking!

I created the diagram below to help guide you through the decision of whether to keep or sell.