This legislation will require: “the presence of deteriorated paint, which may contain lead, on the interior and exterior of pre-1978 residential structures and on bare soil be identified and correctly addressed.”

This dude nailed it.And if you want to be even more precise, here is the standard.As we have observed in countless opinions, deductions are a matter of legislative grace, and the taxpayer bears the burden of proving entitlement to any claimed deduction.

How has recent tax legislation affected 1031 exchanges, and what do real estate investors need to know to stay compliant?

The association has asked that we please do everything to prevent evictions; as rent control legislation is already very real and active and we do not want this crisis to make that worse. 

How did they not realize when they created the law that the implementation should be impossible or would be an easy way to go after licensees which I doubt is the intent since most state legislators have a large real estate professional influence.

Have you read your states legislation regarding Subject-To purchases? 

Insurance - ValuePenguinLow operating costs - The two most significant operating costs are typically property taxes and insurance.Property tax rates: State Property Tax Rates - Rocket MortgageInsurance rates: Insurance - ValuePenguinNo rent control of any kind: Google searchPro-business legislative environment: Google searchSo, if Chattanooga does not meet these goals, I recommend investing in a city that does.

To become a real estate agent, you must complete 3 college credit classes and pass a State exam.Agents usually represent a buyer or a seller and are contractually obligated to work in their clients’ best interest.Agents are required to participate in trainings to stay up to date with the market and current legislation in order to renew their licenses every 2 years.All agents must be supervised by real estate brokers.Agents get paid by commission.

Keep in mind that things can change from year to year within each state as new legislation is passed, so a relationship with the legal expert(s) that are aligned with your state's MHA is a valuable asset to have. 

We often visit Lynchburg ourselves so thought it would be a great idea to buy a house that we can use when we are visiting the city and then rent it out to others when we are not there to help pay the expenses.I did my research and found that there are no restrictions in the city legislation against STRs so we were good to go.