Also check if there are any boarding house regulations in your area that would impact you. 

First - you have to mention what the syndication will do as that will have an impact on how you get taxed.Given that this is a real estate forum, it is assumed that you are investing in a syndication that will invest in real estate.Most real estate syndications purchase real estate in year 1 and have a plan of selling / exiting in year 5 or 7.Often times, the sponsor will get a cost segregation study which increases the loss on the K-1 presented to the investor in year 1.This may be important as it almost guarantees that there will be no taxable income from the syndication from year 1 to the year before exit.If the syndication does well and exits at a price more than purchase, it may result in a taxable income. 

While concerns about vacancies are valid, a great deal will often outweigh the short-term impact of a couple of months without rent, especially considering that it usually takes time to close on a property.

Combining these two minimizes the impact of financing on your Net revenue. 

Thank you for sharing.Ironically, we have had the opposite impact from the poor management of IHA.

While 1031 exchanges are governed by federal law, some states have their own nuances that can impact your transaction.

Did it positively impact your relationship with your tenants?

Tourist interest in the centre of Lisbon is enormous, so the option of letting via Airbnb is a viable one though they aren’t giving more licenses in these areas.

Tax impacts include deferred gains, adjusted cost basis affecting future depreciation, and strict adherence to IRS timelines.

They look like they are sitting on wooden piers and not on a slab or perimeter foundation.As far as lenders are concerned, that could impact the financing.