Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

Nevertheless, a facility is on the horizon and I have now started a non-profit with family to begin a secondary path.

Fail to produce K-1s in time for LP tax returns to completed on time, refuse to communicate with LPs, when LPs start to express frustration.Cheryl Cheryl, I'm sorry to hear this.Many investors learn expensive lessons with their early investments.Knowing nothing about this deal (because I didn't invest) I can already tell you the 24% projected return was a major red flag (in my opinion).

For the vast majority of Conventional, FHA, and VA mortgages you are only guaranteeing the lender that you'll live in the property as your primary residence for a minimum of 12 months.

The city also benefits from a relatively low cost of living compared to other major cities, attracting both renters and investors.

Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

., co-managing or contributing funds) could make the LLC or its profits community property, affecting future claims or division in a divorce.

With hardwork and ceasing opportunities we've managed to be part of this major asset and making it even better.

In Central Jersey where the majority of our sales activity is, the towns vary widely in enforcement of this. 

Another way to look at this is......1) figure out what you want to make as a net profit, 2) Do a quick check to see if this is within local averages, 3) Set your pricing at that higher rate, but keep your occupancy lower.You make the same money with less effort or risk...This might not work everywhere, but it's certainly worth a try.