This phenomenon could lead to a more stagnant real estate market, as homeowners opt to stay in their current homes to avoid the full force of higher assessments [4].Shift in Tax BurdenOne of the significant concerns surrounding Amendment 1 is the potential shift in the tax burden from residential to commercial property owners and operators.

The IRS could apply this doctrine if it appears that the series of transactions are structured primarily to achieve a specific tax outcome, such as avoiding taxes.Regarding the 1031 exchange, while in-laws are not considered related parties, the transaction could still be scrutinized due to the complexity and nature of the other transactions involved.

Their guidance can help you avoid common pitfalls and accelerate your learning curve..

To avoid non-competes and make twice as much, I wouldn't be getting a W2 job initially in Chicago and would rely on 1099 income.

Personalities and business practices vary widely.Lesson 3: Be willing to pivot to avoid potential future concerns, and know that a small win, or breaking even is better than a total loss.Lesson 4: Commercial loan process was great to learn and now I have built a relationship with a commercial lender.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

And if you set the expectation upfront, you avoid these headaches altogether.I hope this helps !

This means adhering to formalities like keeping detailed records, avoiding perceived co-mingling of personal and business assets, signing documents in a representative capacity, and, of course, refraining from fraudulent activities.

I assume that since you're waiting until 59.5 that at least a decent bit is held in retirement accounts and you're hoping to avoid early withdrawal penalties.

It should buy time, and avoid legal fees being added to the balance as the foreclosure attorneys wont be involved for a while as they process you for different workouts.