Since my aunt is the listed owner, Proposition 19 does not apply in this case.We consulted a lawyer who mentioned that transferring the property to an LLC could allow me to be added to the title without triggering a property tax reassessment.

Of course this all depends on YOU setting the base rate and all the knobs and triggers most appropriately.

I'll keep everyone updated on what I pull the trigger on next!

I have listened to the BP Podcasts for a some time now, and thought I would pull the trigger on joining the community!

We are also close to pulling the trigger on acquiring another nearby single family home for a second STR.

It’s completely normal to feel nervous before pulling the trigger, but doing a solid market analysis will give you more confidence in your decision.

This can help avoid triggering the due-on-sale clause.Disclosures & Compliance – Illinois has strong consumer protection laws.

However, the replacement property must remain an investment property—converting it into a primary residence too soon could trigger capital gains tax liability.

If you're lucky enough to get a free and clear property where the seller is willing to finance, this reduces much of the risk associated with seller-finance.I would make sure the title is then moved over to your name, especially since there is not a risk of a due-on-sale clause being triggered.

And then you have BP and an army of experienced investors happy to answer your question or poke holes in your deal before you pull the trigger..Be honest with yourself, are you looking for moral support?