He could easily condo convert that property and make 1m net I had calculated.

If that was to happen with your IO loan, you would have to bring a big pot of money to the table to sell.

However, that is the safety net. I

That way if there is a problem in one 'pot' the mess does not contaminate the assets in the other 'pot'.If you were a doctor it might be wise to have the family home owned by your wife if she is less likely to be sued.

I'm located in Long Neck Delaware right near Baywood and all the pot nets if any are fimiliar, Most of the land here is owned by someone and they have pretty much divided it up and charge lot rent on every property ( mobile singlewides + doublewides are real popular ) SO much land owned by this man you would be impressed.

So lets say its grossing 20k and its net is 10k a monthYou payed it off with cash.You got a loan.

My goal 5000 to 7000 a month net. I

That house has no yards, junk all over, a half built lean to on the side that has been that way two years with a tarp over it.The house is very dirty, they have pit bull dogs jumping on my fence and breaking though it, the backyard is full of trash and they have a pot farm.I have been trying to get them to pay for part of a new fence because the dogs destroyed it for a couple of months now and I'm still waiting.It's very frustrating because now I have plans to move and need this repaired so I can sell this unit off.The good news for me is that I have one of the most responsible, clean tenants out of all my houses and he says he is never leaving until I kick him out.Good luck with your delima, I hope you have better luck than I do.

He had been having pot shipped from the West Coast in PODs that were delivered to abandoned houses, and was using the POD to stash the weed and was dealing out of the rental property.

Which means: I'm considering buying our current vacation rental from the other 2 families and owning it myself, assuming the numbers work (I need to do some additional analysis, as we used a HELOC from my parents and made interest-only payments for the mortgage; the remainder of the cash to furnish and make repairs came from $$ we each threw into the pot at the beginning).