Think we are past the big springtime push.Was starting to look at taxes for this year.

For a business doing fix and flips, I can't see how any tax savings can outweigh the additional leverages and costs of vesting this way.Cheers!

At a bare bones minimum, the letter confirms the start/end dates of the lease, monthly rent, paid-through date, absence of any prepaid rent other than the current month, and security deposit amount.Better, it will include statements there are no unresolved claims or disputes or repair issues with the current landlord, and no verbal or written side agreements.Better yet, it will include a copy of the tenant's lease, and a confirmation the lease is a true and correct copy with no amendments.

Especially if they gain tax deductions that might be worth as much the income. 

Do you need the tax write offs?

If you buy a property for $80K - you will need to put atleast 10% down towards the purchase price ($8K) PLUS closing costs such as lenders fees, title fees, and insurance and tax costs.

Tax Returns, Income, etc...Cheers!

@Elliot Angus To structure this deal, consult a Qualified Intermediary (QI) for 1031 compliance, a real estate attorney for seller-finance terms, and a CPA to ensure tax deferral.

what about quit claiming the two owners onto title as tenants in common and managing the ownership through a TIC agreement?

Property taxes, HOA, amenities the condo offers, neighborhood, upgrades, etc...There are some great submarkets around Dallas too for SFHI am a local Realtor, reach out if you have questions or need assistance finding anything.