The seller said they were all under oral agreements and no security deposits.

Hello All,I am looking to buy a rental property with my parent (full cash no loan) and we are trying to figure out how we should set up the agreement in order to get the least amount of taxes paid and most amount of profit made.

I assume no written agreement?

Make sure Seller on the purchase agreement is IRA.2.

Despite offering almost every amenity for an ideal vacation, my efforts to increase bookings through more than ten non-exclusive agreements with local property managers and continuous outreach to travel agents have not been fruitful.

This is why it is also important to have a PM and indemnities against gross negligence because if they never visit the property etc. to check on condition or follow the terms of the agreement, then that is not something you would want to defend.

Review their management agreement.

ORGANIZATIONAL DOCUMENTS ON THE BORROWING ENTITY: They will need* Filed Articles of Organization* EIN Letter from the IRS* The fully-executed Operating Agreement for the Entity (By Laws for a Corporation)* Meeting Minutes Showing the Signer has the Authority to Sign and that the project has been approved by the board of the entity. * Certificate of Good Standing for the Entity DRIVER’S LICENSES FOR EACH GUARANTOR: Please be sure to get a legible picture of the front and back of the document.

It is important to carefully examine the loan agreement, local laws, and ethical standards.

Also:Prepare and obtain signed and notarized estoppel letters from every tenant attesting to: lease start and end dates, rent payment amount, security deposit paid, any verbal agreements made with landlord, any maintenance/repairs requested but not yet addressed by landlord, etc.Why?