PM me if you need any help.Anti-eviction act law https://www.nj.gov/dca/codes/publications/pdf_lti/grnds_for_...

Paying those things benefits you because they facilitate STUFF exiting the house. 

It will familiarize you with the basic terminology and benefits.

Quote from @Amit Chugh: @Tim Delaney - I was referring that one of the properties is listed as Section 8 Property, why one would list that in title, does it make any different or benefit for buyer or seller mentioning section 8 in title?

If you are in a decent area where appreciation is on your side, its better to bite the bullet now, hold, and reap the benefits in the near future!

Why form a corporation, what is the benefit of this step?

Original costs were low enough that we paid them off within 10 yrs and in spite of operating cost increases of ret, Ins and r&m benefited from cash all along.

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

I  have a detailed reply above that explains it and provides the code citation to read as well