We plan to keep them on a month to month lease but after a few months, have them sign a year lease and increase rent, however, we need help finding a GOOD app/website to get lease agreements/documents from or get a template so we can fill/add certain things we want.

Do you now increase your chance for "Tail" just because it landed on heads 10 times already?

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

Upon BP member recommendations, my husband got his real estate license which now helps increase our access and decrease our transaction costs.

This keeps you from cutting corners or hesitating on necessary repairs.7.Stay on top of rent increases & lease renewals.

If you have an ensuite, which you may, it could make more sense since they typically rent for $1k / month in the Atlanta market.Converting the entire property to padsplit would make more sense in my opinion and should be able to increase your yield that way.

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

Cats can be great, or they can do incredible amounts of damage.You must either increase your damage deposit, or charge a hefty non-refundable fee.

Long-term, look into refinancing once property values increase to lower your interest rate or pull equity for your next investment.Good luck!

While a properly maintained TN LLC might be sufficient for those who diligently follow corporate formalities, the additional layer provided by the Wyoming entity can offer significant extra protection, albeit with increased complexity and cost.