It’s crucial to consult a real estate attorney and tax advisor to structure the transfer in a way that minimizes tax consequences and aligns with your objectives.

State taxes may also apply.To minimize taxes, aim to reinvest the full proceeds into the replacement property, including closing costs and fees.

The real issue is that they didn’t have a plan to monitor usage or set up protections to minimize costs during the eviction process.Ideally, the PM could’ve done things like:Limit access to unnecessary areas to reduce power use.Install smart thermostats to keep heat at a safe minimum.Request a utility cap in court during eviction proceedings (if allowed in your area).Bottom line: It’s less about the utility switch itself and more about proactively managing costs once the tenant overstayed.bro what? 

You can sometimes purchase a property with zero down or a minimal down payment but a seller financing deal will not hold a note for 30 years as a bank would.

This property was a foreclosure auction purchase, so minimal information was known.

Conceptually you want to take an approach that minimizes your need to be on site - and for that reason I would advise against BRRRR.

House hacking is a fantastic way to start building wealth while minimizing risk.

Starting small, like with a duplex, is a good way to get your feet wet and minimize risks.Good luck!

They’re a great way to generate passive income with minimal hands-on involvement.Looking forward to hearing more about your goals!

At the end of the day, owners get a PM to minimize headaches.