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5 May 2024 | 2 replies
We use petscreening.com they screen the pets legal documents and follow all applicable laws per your state.
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6 May 2024 | 10 replies
State law says the contract is binging it’s just a matter of getting the executor of the estate (the daughter) to sign the documents at closing.
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5 May 2024 | 15 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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4 May 2024 | 35 replies
Tenant or just neighbor, someone asking you to print off a document for them is not a big deal.
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4 May 2024 | 8 replies
(for documenting properties, drawing rehab ideas on a digital sketchbook, checking Zillow, etc.
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4 May 2024 | 1 reply
Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.
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6 May 2024 | 19 replies
Some also buy in their name and use form W-8ECI.We have a document that covers all this.Couple of other thoughts:1) Recommend you pick a Property Class first, as that often impacts where you decide to invest.
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3 May 2024 | 12 replies
DSCR would be an option, however, if you can qualify for a full a documentation loan your rate and terms (like your upfront closing costs and pre-payment fee that come with most DSCR options) are better with a full doc loan.
4 May 2024 | 3 replies
Unsuccessful Property Search: Hours spent on unsuccessful property searches, where no purchase is made, do not qualify.On-Call Periods: Instances where you are on-call but do not actively perform work do not count towards material participation.Meeting Requirements:Maintain Detailed Records: Keep accurate time logs and records documenting your involvement in material participation activities, supported by evidence such as emails and calendar appointments.Seek Professional Guidance: Collaborate with a qualified tax professional to ensure compliance with IRS regulations and to optimize your material participation strategy.I hope this high-level overview gives you insight into what activities matter and ones that do not.
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6 May 2024 | 27 replies
Do not rely on tenant provided documents.