Also, try contacting a local appraiser or tax advisor who could provide a precise adjusted cost basis for your capital gains calculation.

While you can’t completely control who applies to live in your properties, you most definitely can find areas that are popular with students, young professionals, families, etc. 4) just as important as finding the property, you need to have an exit strategy in mind for the property.

Ok it’s kind of getting funny and out of control.

Not only to take control and eliminate the eyesore but to raise all of our property values. 

The loss of control justifies the expensing of the reserve on your taxes.

Of course, these lenders have a different risk/reward structure than the owner financing seller who has a “built in” $50k gain.The part I don’t like about doing a wrap is the personal liability the seller maintains for the underlying loan while not having control of the assets securing the loan.  

Getting control of the property is just the first step.

And I feel the ideal portfolio can benefit from the diversification of both.I feel directly owned properties are great because they give me maximum control and the ability to tweak them exactly how I want.

As an owner of 1 unit, you have a lot less control and extra fees like HOA fees.

Read up on them to narrow your focus to the one that works best for you.Try to find one that allows you some control.