Even if you hold your properties in your personal name rather than an entity, it's a great idea to keep the financials separate for tax filing purposes and for your sanity.Once you've done this, it's way easier to implement a cash flow management system such as Profit First (highly recommend) that allows you to properly budget for reserves, etc.And, of course, it makes it easier to do the same with your personal finances once you no longer have "business" transactions commingled.I'm happy to workshop some of this with you free of charge if you want to go deeper into these topics.I've been through this myself.Just let me know (DM)!

You just have to make sure you calculate the funds so that you can try and exhaust all of the money from the sale into the new purchase or what it called the "Boot" when you do a 1031 Exchange.Keep in mind one of the loopholes is you can sell a property and put the profits back into another home using it for both down payment and closing costs. 

We exhausted the details and realized there was no reason not to do so.

We exhausted the details and realized there was no reason not to do so.

While these may be viewed as a better alternative than an LP capital call, they can also be used as ways to make a deal appear that it is in better shape than it actually is.  

From what I've learned is that I just need to do is have a certificate of clear title from an exhaustive title search, Then only if there are wrinkles on there, then I'd have to do a quiet title, not before the exhaustive search is done.

@Ana FranchiGenerally freestanding homes appreciate quicker than an attached home.

I would exhaust all avenues regarding hiring the right property manager.

It really sounds like this property lends itself more to an STR than an MTR.

Hi Michael,      Thanks for reaching out, my area of interest is to stay within 43110 or round the zip code, no more than an hour drive from the above zip code.