So, many people choose to operate in their own personal name but buy an additional umbrella policy to protect themselves from liability.

That quote will be the basis for any additional damage request. 

The hard money 10% plus additional thousands in closing costs was too much to swallow. 

If we waited 12 months and got up to 80% occupancy would have netted an additional $500,000.  

From a tax standpoint, there are additional disclosures to make when selling a business asset for less than fair market value to a related third party. 

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

I should add it will be a short term rental property. 

Additionally, lenders may require a release price (a specific amount to pay down the loan) for each property sold, which can complicate the strategy.It’s worth discussing these details with a trusted lender or mortgage broker to ensure the plan aligns with the loan’s terms.

In addition, we pull our own comps and use Lightning Docs to generate our loan documents.

I was interested in something like owning a rental property as a way to generate some additional income.