I know this is above and beyond what most municipalities require, but being fair will make the whole process easier.Additionally, a new landlord can reduce the 60-90-day notice by offering more moving assistance (cash and/or labor) if they move sooner rather than later.

True, converting a personal Schedule E to a partnership will indeed reduce your IRS audit chances, statistically speaking.

Hello everyone, I am reaching out to the BP Community for suggestions.My Portfolio100% owner of 7 SFH PropertiesGP in about 30 SFH properties(of which I own somewhere between 25% to 50%)All but two properties are managed by a PM CompanyNet worth of the above is about $2,000,000 - $2,500,000My IssuesI have many SFH's - Which take up time(Currently spending time paying property tax and insurance, requesting quotes on insurance policies and overseeing the PM Company(approve rent increases, approve renovation projects, etc).They also take up head-space(having to remember property addresses, remembering when property taxes are due)(I have reminders/systems but something I would like to reduce)Goals1) Spend less time on Real Estate2) Free up head-space2) Make $240,000 annually from real estate(Which I think is not to hard if I can increase my net worth and can get an 8% return)Possible Solutions1) Sell all the SFH's and buy 4-Unit Properties to take advantage of conventional financing2) Sell all the SFH's and buy one large apartment complex3) Sell al the SFH's and invest in syndications4) Sell all the SFH's and purchase stock / bonds5) Continue to hold all the SFH's6) Any other suggestionsOther Considations1) Should I consider private notes?

Here's the City link for you to reference. https://www.chicago.gov/city/en/depts/doh/provdrs/homeowners...1) ADU regulations specifically exclude Short-Term Rentals so don't do it if the intention is to short-term rental. 2) The ceiling height oh 6'10" is almost guaranteed to trigger digging a basement if you want to formalize as an ADU unit, especially if that height is further reduced by pipes or HVAC. 3)Ingress/egress is an issue for renting, as is that any bedroom also will need two (ie operable window/doorway).

Leverage will be reduced from the max available, reserve requirements increased and, typically, you would be required to use a professional property manager.

My Class A home in a nice suburb with great schools is doing well with appreciation, great tenant but significant property taxes have reduced my cash flow.

To avoid reducing your lifetime exemption, you could gift equity incrementally, but this requires proper legal structuring (e.g., fractional ownership transfers).

Increase earnings, reduce expenses, save up, and invest.

This could reduce your help lower your taxable income if the investment aligns with your lifestyle goals.

Key Factors for a Good Seller-Financed DealCash Flow: Rental income should exceed monthly payments (PITI) by at least 1.25–1.5x.Purchase Price: Compare to ARV and market value for fair pricing and equity potential.Interest Rate: Aim for competitive rates; higher rates must still allow positive cash flow.Amortization/Balloon Terms: Favor longer amortization and align balloon payments with your exit strategy.Down Payment: Lower upfront costs reduce risk but should meet the seller's expectations.Flexibility: Seek no prepayment penalties and fair late-payment clauses.Property Condition: Ensure the property’s condition matches terms through inspections.Seller Motivation: Assess the seller’s willingness to negotiate favorable terms.Exit Strategy: Have a clear plan for refinancing or payoff at term end.Portfolio Fit: Ensure the deal aligns with your financial goals and risk tolerance.Vetting multiple deals and consulting professionals is crucial to making sound decisions.