If real estate is involved, separating it into its own LLC before the sale can simplify the process and make it easier to leverage a 1031 exchange.This post does not create a CPA-Client relationship.

Quote from @Richa Wardhan: Hello everyone,For those who call St Augustine home/ investment home , how challenging is the process to build an ADU on your property in St Augustine?

The foreclosure process is not cheap or fast.

How has your process been going so far?

Where would you start with a process like this. 

I'm in the process of purchasing a STR and am intrigued by the 3-2-1 buy down. 1st year of the loan would be 4.5%, 2nd year 5.5%, 3rd year 6.5%, 4th year standard market rate.

And I provide solid returns for my private lenders in the process.

But if the mortgage is 2k or 3k then I'll be in a tough spot. 

As a result, this isn’t the kind of market that attracts top-tier PM talent.Your best solution might be to either:1.Take on self-management if possible (and if you’re willing to put in the time/effort).2.Find an individual you can trust to handle these properties, set up very specific instructions and processes, micro-manage them initially to ensure standards are met, and compensate them well to make it worth their while.This approach requires more oversight on your part but can yield better results in markets like this.

It’s an interesting approach, but ensuring a strong screening process and a legally solid agreement is key.