The total cost including construction and permits (but excluding the land) comes to about $2.14 million.

A good company will have you fill out some easy online paperwork asking you some details about the doors, and they can get you transitioned into their system in 1-2 days, including reviewing your leases and notifying tenants about the change in management. 

I have flipped 30 houses, including having 10 projects going simultaneously, one of which sold for $1.8 million.

I included a link below to your state's association with all the requirement info.Keep in mind that getting into Real Estate is not a cheap adventure. 

If you are going to offer cash for keys, put it in writing with specific expectations, and include a penalty if she fails.

Local references are invaluable because those lenders have proven themselves in your market.Work with Reputable Companies: Some well-known DSCR lenders with a solid reputation include Lima One Capital, LendingOne, Kiavi, RCN Capital, Visio Lending, and Easy Street Capital.

The main differences (besides rates/underwriting guidelines) is what you can include in your renovation costs.

However, deeds in lieu of foreclosure can be subject to judicial attack by their grantors and their grantors' creditors.Grounds for attacks on deeds in lieu of foreclosure include the following:• That the deed was an equitable mortgage - that the parties intended the deed to be given as security for a debt and that the deed was not an absolute conveyance.• That the deed is either a preferential or fraudulent transaction within the purview of the provisions of the federal Bankruptcy Act or any other related state law.• That the deed is a device to clog a mortgagor's right of redemption.• Unfairness of the consideration.• Coercion, fraud, oppression, duress, and undue influence.• That the deed is not subsequent to the execution of the mortgage but contemporaneous with it.• That the grantor/mortgagor was insolvent at the time of the execution of the deed.An estoppel affidavit (executed and acknowledged by the grantor/mortgagor, attesting to the fairness of the transaction, the consideration exchanged, the value of the property, and other factors showing an intention to make a genuine transfer) or a recital (inserted directly in the deed) are supporting documents used to forestall challenges to these transactions.State law and local title standards must be consulted in regard to the consideration and treatment of deeds in lieu of foreclosure.What a GREAT post!   

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

The 1031 exchange was done as a group irrespective of, and including the SDIRA status, as a tenant-in-common.