Took one booking, the tenants broke contract by bringing a pet (dog hair and a bone were left behind), and Landing was not exactly pleasant to deal with in recouping security for extra cleaning and damages (dog used the ceiling fan remote as a chew toy). 

If it’s a new purchase and the sale triggered a reassessment then you can certainly appeal it if you think they overvalued it.

Find a company that isn’t going to gouge you on pricing but they handle the logistics so you can focus on finding more deals.In the end, you will make more margin finding the next good deal rather than splitting hairs to save $50 on kitchen cabinets by shopping around for an hour at supply houses.

Section 721 of the Internal Revenue code allows an investor to exchange property held for investment or business purposes for shares in a Real Estate Investment Trust (REIT) or an Operating Partnership without triggering a taxable event.Many investors are aware of a 1031 Exchange where an investor must find a replacement property to defer capital gains taxes on the property that was sold.

Over-inflating the purchase price to account for closing costs could be seen as fraud or could trigger issues with the loan approval, especially if the appraised value doesn’t match the inflated price.

So I shorten my reply, remove some triggering words and my reply goes through. 

Caveat: Rule of thumb is to not do more than 1-2 of these short-term transactions, otherwise, you could trigger UBIT. 

Once ownership is transferred the clause is “triggered”.  

I'm curious if any of you pulled the trigger and if so whether you have any observations you might share?

Assuming inspection doesn't turn up anything unexpected.I told my agent I thought $280,000 is a no-brainer and $300,000 I probably can't pull the trigger.