We have made the decision to list the place for rent and then simply communicate the situation with the tenant. 

However, over the last 20 years there have been no Tax Court decisions against it... so it clearly isn’t all a sham.

Taking financial advice from people who have made a life of consistent bad financial decisions is never a good idea.

@Dennis Boettjer be careful about basing your decision solely on past deal performance.

I'll double check demographics and include in my decision making process. 

By staying informed about market trends and historical data, we can make informed decisions that lead to maximum gains.Analyzing historical patterns is key to understanding the real estate market's behavior.

Hi everyone,
It has been awhile since I have posted on here, but am excited to get back in!
Currently all I own is a 70-year old house that I live in--it is in good shape but needs updates. I updated the bathroom/po...

You are correct about that, but that's usually a computation and decision that an investor makes after a couple single-family homes or small multis.

So it's probably an expensive job IF I'm even allowed to do it.I'm house hacking this property by living in this basement and renting the upper rooms so I can prolong the decision for a year.

The flexibility, speed, and personalized approach make private money lending a go-to for real estate investors, especially for projects that require quick decisions or more creative solutions.