@Bryan HartlenManaging low-end properties can be demanding due to higher tenant turnover, increased maintenance needs, and frequent rent collection issues.

I don't want to wait to fix this, because the urine could seep into the subfloor and legally speaking I need to mitigate my damages.

A good drywall guy can hang and finish it in less than a day easily.But what you need to do is put a bunch of Green Glue between the sheets.

There was an STR boom when many people bought homes here thinking they could have passive income, but that is not the case here as much as it is in places like Asheville (which is still seasonal, but not as much).

Also, coming from running a business just think of RE as a business (which it is), the numbers have to work and your investments need to fit into the big picture.

Now more than ever, there’s a need to be compassionate towards others.

Many meaningless emails such as “thanks” or “let me know if you need anything else” were sent to the sponsor after receiving non-answer responses from Versity/Crew.

Hi thereAccording to IRS guidelines, once a property is ready and available for rent, meaning after you completed the renovations. you would  be able to deduct expenses. snce this was your main home,  the tax accountant you will use will need to do a conversion from personal residence to a rental for depreciation purposes. the improvement you made, depending on what they are, may be added to your basishope this helps

Thanks so much!

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).