It's not about being nit-picky—it’s about ensuring the property is safe for residents.

I think too many people get into this and struggle for too long before realizing that they not been properly trained and potentially could have dramatically shortened the learning curve.   

This approach ensures that we have the ability to appropriately maintain a community, ensuring its long-term viability.

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.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

And actually, if you structure things properly you shouldn't have to worry about the tax implications at all.

The thing I'm trying to figure out is how to properly qualify as a RE Prof. 

You may have heard that staging your home properly can make a big difference when you sell your house, but what exactly is home staging, and is it really worth your time and effort?

You might find that installing a mini-split system, properly insulating, and ensuring the finishes match the main home’s quality will make a difference in how the appraiser views it.

Ensure compliance with 45-day identification and 180-day closing rules.This post does not create a CPA-Client relationship.