Then your heirs can inherit your position and keep it going every 10 years.....etc....as compared to the MIN which is due in 30 years.For example here are a few recent CRE deferred sales trust deals:- Owner who sold a $34M apartment complex and moved his funds into a Deferred Sales Trust. - $18M Business Sales of Veterinarians who sold multiple practices in Virginia and Indiana.Another example, was for a couple who sold their primary residence for $26M in Newport Beach defer $6M in capital gains tax.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

As you progress, maintaining a clear line of communication with your team, especially your property manager, will allow you to stay ahead of maintenance issues and tenant needs, keeping your operations smooth and your tenants happy.If you haven't done so already, consider outlining your goals and investment criteria with a property manager early on.

The tenant pays a monthly premium and keeps an active bank account and credit card on file.

Please keep those posts in the Classifieds forum.Need a spreadsheet or form?

Finance was a combination of a few different vehicles and ultimately ended with a HELOC which was then used to fund multiple other projects over the years.

I really appreciate the emphasis on simplicity and clarity—especially the advice about keeping non-operating expenses separate from NOI.

Keep the loan local.  

Keep in mind though those types of project are not 90 day flips in a 500 to 600k market. 

If you want to keep your options open to access more deals, it’s worth having an honest conversation with the agent about your concerns.