It includes paperwork, scheduling third-party inspections, and meeting critical dates for due diligence and closing.By leveraging technology, we use platforms like Asana to assign and track tasks.

Prior-year losses can’t offset W-2 income but can be used for capital gains or future rental income.For audit risk, high earners using REPS face increased scrutiny, so be prepared with detailed records.For material participation, keep a time log with tasks, dates, and hours spent on rental activities like tenant management, repairs, and bookkeeping.

For a team that had only done one successful deal to date, the 60-40 portion of the waterfall doesn't feel appropriate to me.

This date is important.

If you mean they want to sell but want too much because of sentimental value, maybe leave them a LOI with an expiration date and let them think it over.

It was not uncommon that they bought some of the worst houses (weird layout, dated, much deferred maintenance) in the nicest neighborhoods and then would try to relist them as-is to make a profit before ending up having to do the actual work required to the property for it to sell again, selling at a loss, or maybe making a little bit of money in transaction fees.

Dated flooring?

At that point, if your tenant is not willing to renew,  you simply advise the tenant that you will not be renewing their lease, and provide them a move-out date by which they must vacate the property.  

Learn which version is right for you in this detailed QuickBooks Online plans comparison guide:- QuickBooks Online Simple Start: Have employees and issue invoices regularly- QuickBooks Online Essentials: Assign hours worked to customers, track bills due, and provide access for up to three users- QuickBooks Online Plus: Best for retailers, wholesalers, contractors, and other small businesses requiring property cost, inventory tracking, budgeting, and access for up to five users- QuickBooks Online Advanced: Best for small and midsize businesses (SMBs) seeking fixed asset accounting, advanced reporting, custom user permissions, a dedicated support manager, and access for up to 25 users You can use it as a property management software to track lease dates, record maintenance request and moreNothing is confusing to use if you learn it.

When you buy determines your short/long term capital gains.The "in-service" date = The point in time when you can start taking depreciation from.