What a great bump to your portfolio.Please keep us up to date on what you find.

The default judgement date is 11/19/2021.

The default judgement date is 11/19/2021.

Because this is my biggest project to date, I am hoping someone with more experience can review my plan on this building and let me know what you would do differently - mostly with to rehab or not to rehab before tenants.We are replacing some needed items for sure -roof, some HVAC, windows and other mechanicals.

If the tenant stays after this date then they are a “Hold Over Tenant” and can be evicted on those grounds. 

@D MackHi Mack, you will need to send copies of all your lease and option documents to the title company in addition to a Purchase and Sale Agreement which will capture the final sale price agreed by the parties and a closing date. 

Too easy.  24 SFHs, one LLC, one checking account, one spreadsheet, one cell phone, one old beat up pickup truck named Ghost, and 30 trusted contractors / professionals on speed dial. 

However, nonqualified use does not include any period of such use that occurs (1) any time during the five-year period ending on the date of the sale that occurs after the last day of use as a principal residence, or (2) any time (up to two years) that the taxpayer is temporarily absent due to a change in place of employment, health, or unforeseen circumstances. 

#1 reason: Speed of transaction.#2 Reason: House Is in too bad of a shape to list#3 Reason: Hastle Free#4 Reason: Agents smell like dead monkey.

Looking for advice.....not interested in getting a job but will do that if it speeds up the process of converting the funds in 401a into real estate (before inflation really takes off). thanks for any advice - this is a great website. - Ray