Just because a house is listed for $4,500 doesn't mean it rents for that price, or that it rents quickly.

Shortly after the crash my tenants learned that condo developers were renting out luxury apartments in the area for around the same rents I was charging so I was forced to lower rents. 1200/apt 2 1050/apt3. 

I've been house hacking for two years and for the first time I'm gonna be renting out the whole house and moving.

Since moving into another fixer-upper isn’t ideal right now, consider leveraging your $40K for a low-money-down investment, like house hacking a small multifamily or using creative financing (seller financing, subject-to, or partnerships) to avoid tying up all your capital.

Would you be able to move to the new house before your retirement in 10 years? 

When you've been around for a while, you develop an exit strategy "tool belt" of sorts.

I can't say what's best for you, but I can tell you what I did for my first house.

The building tradesmen are busy too, but I just called ABC and got the name of a guy who buys alot of bitumen roofing so as to get a quote on a leaky patio cover, got a guy to bid cement board skirting on a stick house by calling Palm Harbor mfgr home sales center, got a card from a guy working across the street doing drywall repair and put it in my phone.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

Quote from @Mary Jay: Quote from @Owen Rosen: Quote from @Mary Jay: Hi guys,1) So I have an insurance broker and it seems like the properties I have with him keeps getting inspected by the insurance companies.Our house that we live in is with a different insurance broker, 10 min away from the other ones, and our house NEVER gets inspected by the insurances.Roofs are the same age.