4) What will be your screening requirements to comply with Fair Housing & local statutes?

June 2024 Lee County Florida Foreclosure ReportThe June 2024 Lee County Foreclosure Report was complied by Jeff Tumbarello, Director SWFL REIA , Broker/Owner Steelbridge Realty LLC Principal , Venture Investment PartnersThis is my work, done for me and shared with youThe data in the report came from multiple sources.Those sources are:The Lee County Clerk of Court, and MLS data (from my membership as the Broker of Steelbridge Realty LLC)We haven’t published this report in a while as the market trajectory previously rendered this dataset less crucial for forward-looking decisions.

Ensure your property complies with all local health and safety codes.

If they don't comply, eviction filed. 

Whoever creates and sponsors the syndicate needs to comply with the SEC regulations for securities offerings UNLESS the offering qualifies for an EXEMPTION from registration.  

If that's 25 dollars or 300 that's entirely up to you provided you comply with the law.2) You could pull the equity out in a cash out refinance, and use the proceeds to purchase another property and keep both.

This has been disruptive to peaceful living conditions and I was just about to send a comply or quit notice to Steve when this situation with the police and hospitalization occurred.

Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

They need to understand that they will be taking over responsibility for making mortgage payments while the loan remains in your name.Legal and Ethical Considerations: Ensure that all aspects of the transaction comply with local laws and regulations regarding real estate transactions and disclosures.

To meet his burden of proof under IRC 7491, the taxpayer must comply with the recordkeeping requirements of the regulations.