Show the bank the first couple of transfers into your account and if the those transfers are expected to continue for at lease the next 3 years, the bank can use that $5000 as monthly income which can help you qualify for a loan to buy the yacht of your dreams.

Thank you  The good GCs charge 20% but this does not equate to your savings because the GC will have better contacts, have namer experience coordinating contractors, be more familiar with permit process and expectations of the inspectors.  

Any fees for wire transfers or ACH payments?

We don't even a Board yet (it's a new build), and it's all being coordinated by the HOA management company for the building.The developer offered to make the new door key fobbed on each side for entry, and would install a new security camera. 

I want to note that bookings will transfer, but we're under no contractual obligation to honor them.

This project I expect to have fully complete renovation wise in 2 months and am coordinating alongside my full-time PM support. :)

Yet another reason, (albeit not in the top three) why all rental property should be in an LLC with a wife or child as a partner (even .1%) so as to file the Form 1065.Number 1 is liability protection, Number 2 is privacy, Number 3 is ease of transfer for estate planning, Number 4 is possible sale of the LLC to conceal sales price (also called drop and swap), Number 5 is having a single entity for financial reporting, Number 6 is brand identity.

Hi Kin,Transferring your share of the property to your brother may have tax implications, including gift tax if the transfer is considered a gift.

.❌ Emotional Stress – Handling tenant issues (especially late payments or evictions) can be stressful, especially if you live in the same building.Hiring a Property Manager in ChicagoPros of Hiring a Property Manager✅ Less Stress & Time Commitment – A property manager handles everything from finding tenants to collecting rent and coordinating repairs.

The new PM simply asked/told the existing PM what they needed to do in order to process the transfer.