I had the initial call with a PadSplit sales person, but I wanted to talk to somebody who's actually doing it to get their perspective and advice.

If you already have existing property and transfer property to an LLC, then it could trigger the due on sale clause the bank.

I buy a box of bolts or some tools, or buy an extra stove or fridge at a yard sale what entity do I put it in? 

But it had been for sale on the market since July, 2024. 

Jan we had 12 buys 10 sales. 

Quote from @Paul Lucenti: We just closed on our 9th deal and first of 2025 - sales price was $115,000 and total monthly cost is $890. 

Similarly, the sale ($575K) minus your adjusted basis determines your capital gain.You may qualify for the primary residence exclusion (up to $250K single/$500K married) if you lived there 2 of the last 5 years.

One big one is that scaling the lease option sale to a homeowner will attract both public regulatory scrutiny and private litigation, perhaps class action, once it reaches a certain threshold.  

An experienced agent would have worked with the seller to do the repairs before they sold, and captured the forced equity in the sale.

Hi Brett - local PM here - we have a few development projects, small multifamily and tonwhouses that we are gearing up for sale in the next 6 months.