A family member is currently living upstairs and paying rent while the basement is vacant.I'd love to hear your ideas on how I could make the best use of the basement space.

I'm trying to figure out a strategy on buying real estate from the seller (who owns the property outright) on payments, adding value and reselling it for profit and thus, paying off the original seller.

Also, if you hope to attract a national fast food chain, most retail developers will get a committment from them, or at least some type of LOI, up front to make sure that the chains would even be willing to have a store at that location, and what specs they would want/need for the building and how much rent they could pay, etc.

Do you want the seller to pay closing costs?

And my tenants are paying these off for me while I collect much more cash flow.

The problem with one off leases is that if there is a problem you will end up having to pay an attorney to learn that lease.If you want to go at it alone you might also consult with the attorneys at the title company that close your deal.

So any cash you take from the exchange to pay yourself back for those expenses will be seen as taking profit by the IRS and they will be taxable.If any of your vendors are willing to wait and put those expenses on the settlement statement then they might be eligible depending on what your accountant feels. 

The guest called it nit-picking and I can see her perspective, and offered to pay for the sheets.

I’m thinking of selling while prices are still high , and paying cash for a multifamily or 2 separate properties to get a better ROE than I have now, however .. if I’m patient rates will come down in a couple years , not to 3% , but perhaps that’s my better strategy , then I don’t have to sell and pay capital gains, I can rent this place out & buy another with a refi at 5-6% is my guess - thanks !

My tenants can pay rent with cryptocurrency, of course!