You are bleeding money now, but each year it might actually get worse depending on the financials. 

Legal consequences and potential financial loss that could have been avoided with timely updates.2.

Narrow your top cities, build a local team, and refine your financial analysis to position yourself for success.Good luck!

Prioritize your financial stability.

Build a financial history with your LLC. 

It’s a great way to add value to a property without putting a ton of money upfront, and it can set you up for financial success in the long run.Has anyone else done a similar renovation project or used a gift of equity in their deals?

@Caryn FischerI agree with Jaron, you should definitely have a consultation with your tax accountant and/or financial planner before you do anything. 

These penalties include:Five years in prisonUp to $500,000 in finesEquity Skimming may also result in Conspiracy charges, specifically conspiracy to commit bank fraud and false statements to influence a financial institution.

The property jumped another 100k less than a year after the sell as well as rents went up to support what would have been the new monthly debt if I refinanced and held. 

So PLEASE don’t make another huge financial decision and then tell that same person after you do it.