This ensures a clean transition of ownership and responsibility for insurance purposes.

It's a little different but structured properly it beats the work, hassles and uncertainties of flips.

A Property Manager can also assist with understanding local regulations and the practical aspects of property management, ensuring you make a well-informed decision.Feel free to share more about your specific needs.

Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?

Since the original mortgage stays in place, you only need to ensure the reinvestment equals or exceeds the proceeds.

Proper record-keeping of rental and personal use days is essential to avoid IRS scrutiny.

Here’s the context:The house appears vacant, with a large tree that has fallen on the property.From what I can see, the house seems full of furniture and might even be a hoarder home.I’ve skip-traced the property and found that the owner has unfortunately passed away.The house seems to be mortgage-free, and I’ve identified three phone numbers associated with the son, who I believe is the heir.I’d like to reach out to the son to express my interest in purchasing the property, but I want to ensure I do so respectfully while also gathering the right information.Here are my questions:What’s the best way to approach the heir while showing my condolences for their loss?

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

While there could be avenues to acquire real estate creatively with less cash operating  real estate properly is capital intensive. 

Even with some people I believe are honest, I simply believe most do not properly analyze and manage risk, as is evident with nearly every syndication doing capital calls right now because they didnt properly plan for rising rates.Dave Van Horn however, along with his company PPR one of the few people I trust in the real estate space.