We have been in the Smokies a long time, and many guest accidents, some of them life threatening over the years, could have been avoided with an annual risk management walk-thru:- Loose or rotting steps- Nails poking up through deck boards- Stinging insect hives or infestations- Ceiling fans that are barely hanging on- Loose deck, stair, and landing railings- And oh, about a hundred other things!

Nobody wants to trap their money in a house and break even for decades while renting their so so C neighborhood home to a stranger and everything that comes with that. 

I was more than happy to walk away from my $2500 earnest money instead of buying such a rat trap. 

Go to meetups in your area to meet other investors who invest in Section 8 rentals to see if that's the type of property and management style you want.

@Shawn ChervinskisSee Section 408(b)(2) of ERISA for more information on this exemption.The office space or services are necessary for the establishment or operation of the plan;The contract or arrangement under which the office space or services are furnished is reasonable; andNo more than reasonbale compensation is paid for the office space or services.Regulations issued by the Department clarify the terms “necessary service” (29 CFR 2550.408b-2(b)),”reasonable contract or arrangement” (29 CFR 2550.408b-2(c)) and “reasonable compensation” (29 CFR 2550.408b-2(d) and 2550.408c-2) as used in section 408(b)(2).

We have a property in costal NC and selling is just a death trap of taxes.

REPS is tough to qualify for if you have a full time W-2-paying job or company outside of real estate.If you get trapped with PALs, consider utilizing 1231 gain in conjunction with long term rentals.Current year deductions are only great if you can use them now! 

BP should definitely create a therapy group because I equally fall into that trap with some of our Chicago renovations...I went to a property to do a quick walkthrough check and then somehow I end up with a broom in my hand cleaning because messy job sites are my pet peeve.  

I am not here to pick on you, I am here to protect BP members from falling for these misleading traps. 

The top issues include: - P trap improperly plumbed in bathroom- Moisture stain in one of the bedrooms- Double taps in electrical panel - False ground, or "bootleg ground" - Outlet GFCI not functioning - No air filter and nowhere to place one on HVACI'm actively looking to see if any  contractors can go over there with my real estate agent or look at the inspection report and see what's going on.