Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

According to your profile, you'd be a representative of a Mexican real estate agency I'd never heard of, even though I've been investing in Mexico since 2017 so I googled the name you give and, surprisingly, I didn't find a proper website, just an influencer-like Instagram account.

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

2) Their contractor must be properly licensed and insured and we require copies of all this.

The guru your son is learning this technique from is likely not telling your son that the deal will almost certainly encourage your son to get an "off-market" deal from a "wholesaler" who is unlikely to properly disclose the details of the property or encourage an inspection. 

Here’s how you can stay informed and ensure your rental properties meet all legal requirements.1.

As General Partners (GPs), we juggle a lot—talking with vendors, negotiating with buyers and sellers, and ensuring the deal stays on track.

While living with tenants can pose challenges like privacy concerns and tenant relations, clear boundaries, professional management, and proper tenant screening will help you succeed.

Clear financial separation ensures all rental expenses are deductible, maintains legal protections, and simplifies tax compliance.This post does not create a CPA-Client relationship.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.