Garcia, 360 So. 3d 432 (Fla. 3d DCA 2023) - determined that transferring real property to a limited liability company controlled by the grantors constituted a “change of ownership” of the subject property under state law, and therefore, Florida’s beneficial “10% Assessment Limitation” (i.e., a 10% cap on annual increases in a property’s assessed value for Florida property tax purposes) on the subject property COULD NOT be retained by the LLC after the transfer.Now your 10% annual tax cap is GONE🤯Despite the Florida Supreme Court's recent denial of discretionary review, making the decision final, the S & A case could significantly affect real property taxes for various related-party real estate conveyances.

In Washington State, where I am, when you go to M2M on a lease you cannot then terminate that lease without just cause. 

But even at 10% with appreciation as you stated, that doesn't beat the 13% the S&P 500 did over the last decade.

In Florida, you have to be a licensed RE broker to manage property for property owners, which adds thousands of dollars a year just to stay licensed: state required license fees, CE, insurance, Realtor dues, listing memberships, public-access office, etc.Additionally, property owners expect much more from PM's than in past years.

@Aaron S.Your friend is correct unless there was a warranty - and most warranties are for a year with exception of structural warranties that may be outlined by state law / building code.Sorry you have to endure this.

Look to your state laws and get legal advice regarding whether the violations are non-curable or curable and the number of days required for the proper notice.

However, shortly after securing the property under contract, the lender notified me of an error on their end, stating that the property's is rural for them and hence mandates a reduced 70% LTV.

That is why it is showing such high occupancy on sites like VRBO.I also agree with the point above that to compete you would want to renovate and bring in some amenities, but like I stated earlier, it depends on your target rental amount.

(Oh, and before you ask, yes, the gas tanks got taken out in the 70s and we've been given the all clear from the city and state :)

My mother-in-law is managing the state and doing some projects to get the house in better shape before going to the market.My husband and I would like to purchase the home as an investment property (rental); my mother-in-law stated that she would "discount" her part of the purchase, which means we would only pay 66% of the original price.I am trying to think of alternatives to borrowing the money.