🏡 I'm a landlord looking to adjust the rent for my rental property this year.What's the typical percentage increase you've found to be fair and effective in 2024 in your experience?

Increasing population, jobs (especially with amazon and NKY international airport), etc.

Does anyone know which states are similar to CA Prop 13...in terms of fixed increases in property assessment value for property tax and able to pass down the assessment value to children?

I'm not a CPA, but a big kickback from sellers that have a ton of equity is they do not want (rightfully so) their property taxes to increase when they trade their home.

This amount is then increased by no more than 2% each year.Is this correct?

So far, I'm attracted to wholesaling as it seems to be both a simple entry point and a way I can stay debt free.I'm a highly mechanically minded and detailed kind of guy, so understanding property condition and data processing is of no concern for me. 

So your buyer would be responsible for paying your fee, which generally makes the deal not be attractive. 

For any real estate investors, lawyers, title officers, or anybody else…Is there a way to transfer property while not triggering a tax rate increase?

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

I agree that it doesn't always attract a great deal of USC students, but I've actually recently had a number of USC Law School students inquiring about a rental.I actually own a home around the corner from 307 Wildwood on Mildred Ave.