However, it’s important to ensure that the deed is properly recorded with the county recorder’s office to make the transfer official.

And actually, if you structure things properly you shouldn't have to worry about the tax implications at all.

.- Maintain proper records, such as contracts, settlement statements, and promissory notes.

It is nearly impossible to follow NYC's requirements and run a proper housing business.

Under federal law (ADA and FHA), true service animals and emotional support animals are exempt from pet fees, deposits, or rent, but the tenant must provide proper documentation if requested.

One of my close friends in the busines had a similar setup.. her husband was also a contractor, and together they tackled a fixer-upper that ended up netting them a solid profit on their first deal.When you’re hunting for the right property, I’d lean on a realtor who really understands investor math... someone who’ll help you break down potential cash flow or resale value.

Down the line you should be ok with proper pricing and rising rent over time.

I also have a friend that bought brand new construction, but had to shell out tens of thousands in repairs because the home wasn't built properly, the inspection didn't catch the issues, the builder didn't have a warranty on the property, and insurance didn't cover all the problems.

You may have heard that staging your home properly can make a big difference when you sell your house, but what exactly is home staging, and is it really worth your time and effort?

@Zach Howard you pretty much MUST hold it in an LLC if you don't have the proper visa or greencard.1) Many attorneys over-hype the benefits of an LLC for each property.