The good news is that there are plenty of great CPAs out there including on these forums.We did have a conversation with him, which is why we selected him in the first place.

I'd try to fill at least a few spots to get some income coming in, and then do a rolling conversion to MTR as you have the cash to outfit a unit with everything an MTR needs.

Many borrowers file this form as an exclusion to their US federal taxes as they may have been taxed by the country where they are earning the income.Required Documentation for Foreign IncomeWhen it comes to processing foreign income for a loan, documents required may include:» Most recent personal tax returns» History of receipt» Proof of continuance of foreign income earnings» Conversion of the income from the foreign currency to US dollarsThese documents must be translated or completed in English so that a loan reviewer can properly evaluate the information provided.Fannie Mae & Freddie Mac GuidelinesIncome from Foreign SourceIncome from foreign sources must be reported on the borrower’s most recent U.S. individual federal income tax returns.

Collecting rent is something we don't talk about much unless it's not happening but I wanted to start a conversation about what methods of payments you accept and why. 

Also there is a special tax abatement for office conversions but requires the developer to retain 15% as commercial use.So we have the option to stack them and consolidate.

Again, this is a conversation to have with your accountant to ensure the benefits would outweigh the costs.Another misconception is that there is little value in a cost seg study for properties that do not have a lot of personal property in them or very little interior build out, such as industrial warehouses.

Lot less multifamily which is why I haven't bought but it is where I grew up.Make sure you study the eviction laws, I believe tioga County (but could be a different close county im not sure) my lawyer told me that you now HAVE to pay to pack up an evicted tenant professionally and store it for months at your own cost if they leave their stuff behind.

Take this example and remove the LLC as a part of this conversation for simplicity.

The plan is to have 25-50 conversations per day with agents, make 3 offers a day.

My most recent LOI was for a 168-unit property, and I’m also working on LOIs for properties with 200+ units.I’ve had conversations with brokers and, in some cases, even the sellers directly.