The ground floor was redesigned for retail units, while the upper floors were converted into modern, open-concept office spaces.Modern Amenities: Introduced features like energy-efficient lighting, upgraded HVAC systems, and high-speed internet infrastructure.Aesthetic Upgrade: Refreshed the façade with contemporary materials while preserving historical elements to maintain its character.OutcomesIncreased Occupancy: The property went from 40% to 95% occupancy within six months of renovation.Higher Rental Rates: Upgraded spaces commanded rental rates 30% higher than before.Enhanced Property Value: The property's appraised value increased by 50% post-renovation.Investor's ROIBy investing in smart architectural design, the investor not only revitalized a neglected property but also significantly boosted their ROI through higher rental income and property appreciation.

So no Board, nothing to manage except State law...the organization docs for the HOA should have identified when the developer maintained control, the terms for it to be turned over and at turnover you would establish a legislative body which would be the Board...

In California, transferring ownership could trigger a property tax reassessment,To maintain compliance, a qualified intermediary (QI) must facilitate the 1031 exchange, and you cannot take direct possession of sale proceeds.

This would hopefully maintain strong cashflow from the property will providing some capital to use for the next property acquisition. 

To maintain our standards, we have a process for working with interested investors like yourself. 

Their role is crucial in maintaining liquidity in the housing market, ensuring banks have enough capital to keep lending to homebuyers and investors.

To thrive in real estate investing, you must maintain a firm grip on your finances.

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

You will need to make sure that are no gaps in windows, doors, etc and that the HVAC system is well maintained as a tenant could argue that lack of remediation is the culprit for a high utility bill.

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.