Whether it’s the proper legal route or unconventional methods, I’m open to any suggestions to help me get rid of these tenants sooner.Thank you in advance.I completely understand your frustration—situations like these can be incredibly challenging, both financially and emotionally.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

I’m looking for some advice or suggestions . 

Would suggest to consult a tax pro for this!

Hi Stephen, I would suggest reading as much as you can and connecting with people in the industry.

And if you bought this property several years ago, then you probably already have a killer rate, so suggestions to refinance seem silly as you probably already have the lowest rate....especially if your refinance was completed as you were an owner occupant, and not categorized as an investor to a Lender.In terms of tax implications, again, it depends on what your ultimate goal is, but if you placed this into a trust, or even a beneficiary deed, it would pass through to a beneficiary who would not have to pay capital gains on it in order to sell it. 

My current agent suggested if it made sense financially, to do some rehab work to get the properties rent-ready, but I do not have the liquid funds to do so and sell these as-is.

Aim for 720+ for best rates, I suggest start building relationships with your local lenders.

The mold remediation companies should have the skills to identify the source, suggest a solution, and give you a bid with a guarantee of their work.

I spent the prior 18 months obsessing over the markets, reading every book, diving into a massive rabbit hole with mobile home parks, and ultimately decided that in 2023, I had done the research that would suggest this journey is an absolute certainty.