Additionally, the boots on the ground partner has to be extremely trustworthy.

The Charlotte rental market is experiencing significant shifts, and it’s raising some important questions for both investors and property owners.

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

Through loopholes there are many home owners that are illegal immigrants, if they get deported , what will happen to their homes?

Electing disregarded entity status avoids additional filings while achieving the same tax outcome.This post does not create a CPA-Client relationship.

In addition, if this was originally an owner occupied house, there are often homestead exemptions where the first  $XX,XXX. of the value of the home aren't taxed.  

Markets like Texas (San Antonio or Dallas) or North Carolina (Charlotte) could offer better cash flow with lower costs.

There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

I should add it will be a short term rental property. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Clinton.

Purchase price: $530,000

Cash invested: $20,000

Hello all! I want to share an experience ive had over the past fe...