A friend of mine ended up in a tough spot because he didn’t realize that improvements could be included in the exchange value under certain conditions.

Interesting read above about Union County limiting it to 5%...I didn't realize that.

When she started to remodel, she realized the electricity needed to be updated and the current landlord didn't have the funds to cover.

In fact, I’ve seen this happen frequently, where properties are marketed as eligible for specific financing options, like VA loans, only for buyers to realize later that the home doesn’t actually meet those requirements.

The quick good/bad of Section 8:- S8 tenants tend to be rougher on the property (but not always)- Paperwork/inspections/etc. can be burdensome and tough to navigate (especially initially)- People often think FMR rates are guarantee rental rates but that's not the case- Usually the rent isn't 100% subsidized and a lot of people don't realize this- S8 tenants tend to stay a lot longer than cash tenants- Obviously, the guaranteed rent portionOverall, I'm neutral on the program.

I realize it's too late for that now but if you run into that again in your career just know. 

What we find is the missing piece is some pros do not realize that it is indeed possible to have a "rental property" that is actually not a "rental" for tax purposes and treated as a business. 

What you guys probably do not realize is that you cannot generate ANY tax loss when you rent out part of your house.

And after speaking with a lot of folks at BPCON2024 I’m realizing this is a niche that some of you in the community are very good at, but most of you, like me, know this is a need but don’t have a good solution. 

This depends on your agreement and whether you are hypothecating the note (meaning you own the note and are borrowing against it) or doing a partial where you are selling that portion of the note and issue a collateral assignment.When i did partials I did it as a hypothecation where I kept control of the note because those who typically buy a partial are not savvy note investors and if it went into default the first call they would make would be to you.I know some who let the buyer own it and they would be calling the servicer every week asking about payment or emailing the etc. then if it did not show up they would be calling them.How you structure it is up to you, just realize there are pros and cons for both