It gets challenging when one person provides all of the work finding, funding and selling the property and one person doing the rehab.You have to decide in advance, in writing, in the JV Agreement how to handle inferior workmanship, if a sub contractor is called in who pays for that, who pays for supplies, who pays for overages, who pays for “redo’s” and who pays for missed deadlines.

Keep in mind, IRS filing deadline for LLC is 3/15 (not like personal, and States may have different filing deadlines also depending on where you incorporate and investment property location)

Account Closed What if I already asked him to add a deadline fee?

In part I want to simply file by the deadline (just happens to be October 15) to avoid failure to file penalties, which would then be retroactive to April 15 and would be 25% plus interest since April 15 and would be a significant amount.  

This has resulted in many delays.It seems that every time we're not looking, one slips out early, doesn't show or just falls behind the deadline we established.Anyone have an best practices in managing subcontractors?

I have a few different theories as to why there might be a low representation of A&D professionals in RE investing: 1) TIME / Maybe it's because we are ALWAYS on a deadline (or multiple deadlines), while trying to balance the industry's cultural expectation that "overtime is a necessary evil to create great work" (while, you know, also being unpaid)...by the numbers, it simply leaves fewer hours in the day to pursue other things on the side, especially if you have other responsibilities like kids/family.

There will be an extension on that deadline for the counties hit the hardest in Mississippi and Louisiana.

I gave them a deadline of Wednesday 5pm to close or I was retaking possession of my property and it would not be listed for sale again. 

Since the law does not take into effect until Feb 2021, would it be recommended to now pass on property to heirs before the deadline?

One unit does look to be actually moving, again they are under no deadline legally to get out we haven't issued any sort of notice to quit.