I hope no one is using this to actually purchase property subject to.

This is what happens when owners go with the cheapest PMC services they find, yet have no clue how the services actually work.- The new PMC you want to hire will have to increase your Placement Fee, so they can offer a commission to an agent that brings then a tenant.

After 20+ years in real estate partnerships, here's what actually puts you on the IRS radar (and what doesn't):REAL Red Flags That Matter:The Partner Complaint TriggerDisgruntled partner files Form 8082K-1 disputesPartnership disputes leading to tax filingsReal Impact: Instant IRS attentionSuspicious Loss ClaimsLosses exceeding investmentArtificial basis inflationSudden large losses without economic realityExample: $100K investment claiming $500K lossesRelated Party GamesCircular property flipsBelow-market transfersFamily partnership schemes without substanceWatch Out: IRC §267 and §707(b) violationsDebt Engineering Red FlagsBasis inflation schemesArtificial guarantee arrangementsPartner debt shifts near year-endCritical: IRC §752 compliance matters!

Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money. 

What would you do in my shoes I don’t invest there so take this with a slight grain of salt but I’ve heard multiple stories of basically this exact scenario someone getting offered a big payday for something in Cumberland, rejecting it & always for some reason (house burned down, block got worse, sheetz decided they actually didn’t want someone’s land for a car wash after all) always selling for like 10-20k and regretting not selling. 

@Jason Wray I actually already work with the Federal Savings bank and am currently refinancing one of my properties with you.

Quote from @Jai Windish: Hey everyone,I am from Illinois and actually closer to Peoria than Champaign, but choices were limited.

Here’s why:Putting aside the actual physical danger of living in a fire prone area.

Quote from @Luke Carl:Yes her new book came out this week actually. 

Since you’re open to out-of-state investing, there are definitely some great opportunities out there.A few things that helped me:-Finding investor-friendly agents/property managers who actually understand rentals.