What not refinance one of your rental houses instead of selling it?

Both deals fell through for different reasons but I learned a lot especially what NOT to do haha.

Seems redundant at best, and almost a double negative in a sense to use IRA for real estate.I prefer the liquidity, and what not over the tax deferral which done right, as you stated, is possibly forever.For me the big deal breaker was the introduction and advocation of the new MyRA.

You better watch out for foreclosure rescue laws in your state, and FBI and Attorney General's office really doesn't want any consumers messing around with peoples houses that are behind on mortgages doing creative dealsForeclosures and short sales are not a place for you to make a lot of money these days unless there's a huge amount of equity, and even then unless you buy the house out right for cash (ie what not to do is you cure the note and buy on subject to) you're risking getting the authorities involved with foreclosure rescue activitiesYou might consider a joint venture with the seller150,000 minus costs to sell of 10% 15k = 135kPay the 112k = 23k - 10k in repairs = 13kI would see if you could split the 13kGive him a note for 6,500 , Fix the house and resell and make 6500

Emails and what not aren't nearly as good for working out contentious topics as a real back and forth conversation.

Knowing what to say an what not to say are factors that can determine your success in selling yourself.

Much of it is 50 years old and may be 900sf 2/1s with a carport, but still, the returns can be pretty good here... especially with rental rates increasing faster than values.I keep my searches close to the US41 corridor as it's easier to rent out those properties near public transportation and whatnot.

To show what not to do.

Their duties will generally be:- Eyes and ears- Collect the rent/deposit- Hand out letters/notices/what-nots- Meet/Inspect the work done by contractors- Show UnitsAny extra pay might be justified for:- Mowing- Competently going to court on your behalf- Commissions for selling a home or 100% collections for a month- Doing a renovationDon't expect to get someone competent in a 20 space park...  

I've also met a few people who own their own construction businesses and what not who has given me their contact info for when I have the capital to invest into my own Fix & Flips.