In the meantime, I have adjusted your account to Pro Annual status with a complimentary entitlement.

While you may be able to get away with not informing the county about the change in residency status, most of the legal residence application processes in SC counties to change your assessment ratio from 6% to 4% will require you to disclose if you currently claim this status elsewhere.

The trust's tax status and provisions can significantly impact the calculation of capital gains tax.Moreover, there are various exemptions and strategies that can potentially reduce or eliminate capital gains tax, such as the primary residence exclusion for individual sellers, which isn't automatically applicable to trusts but may still benefit the beneficiaries under certain conditions.For those inheriting property, the scenario shifts.

Centralizing your staff and moving parts in a single system will improve your operations and guest experience because it will help minimize the chance something will fall through the cracks.

Listed it for short term rentals was doing great - double the market - then one guest asked to buy it and I sold it for 200,000.

You’ll need a dining set that will accommodate your max guest occupancy.

Real estate professional status is valuable because it allows us to reclassify these rental activities to active.

I feel it unlikely that the lender will be willing to lend on this property given the current foundation status (advice from the foundation contractor).

Free class, then 3 day seminar that costs $1500 but because you are attending the free class and if you pay in the next 30 min it will cost you only $300 with a free guest, and at the 3 day seminar when everyone is super pumped they sell the course for $40k.I was exactly like @Andrea Kendall, I didn't have the money to invest in the course and today I'm so grateful I didn't do it because now I know that is the way they got rich, LOL!

. - if you're renting by the room vs renting the whole unit to a group of friends, have the following written into the leases: designated cabinets, designated fridge space, designated laundry days, overnight guest rule (and what's considered 'overnight'), + large gatherings rule.- remember that you'll be paying all utilities if you rent by the room, so factor that into what you charge for rent, and consider using remotely-controlled nest thermostats so they can't jack the heat up beyond what any normal person would pay for (if you're in a cold area). the same could be said for a home with central air in a warmer climate.- consider baking into the rest biweekly housekeeping, so that you know that the property is being kept up with (prevents pest issues), and you won't have to deal with any quarrels over who's cleaning the common areas more than who.- always have the parents co-sign the lease.- make a manual for them. what would your own kids be calling you about when they first move out on their own?