The benefit of the LLC is that it can help you avoid losses spilling over from one property to another or your personal finances.

The property is part of a larger development vision, including future enhancements to maximize land use and value.

Spell out the complete agreement of how expenses, profits (or losses), and other responsibilities are to be split—put everything in writing.Do a background check on the partner to confirm there are no outstanding liens, judgments, or active lawsuits against them.Hope these suggestions help.

You’ll also want the last 12-24 months of profit and loss statements and bank statements to verify income and expenses.

.: I have just been notified that the house I am in contract with--that currently has tenants renting out--has been late with their rent for the last 3 months due to a job loss.

You bought this for 720k, then put in 463k, and are selling it at a huge loss for 751k?

Bad location= lose money and sell at a loss after a few years of frustration.  

Hi - are there any scenarios in which mid-term rental income/losses can be considered as active income rather than passive, besides when one has REPS status?

By leveraging my knowledge of the situation and the property's potential, I negotiated favorable terms and secured the deal, ensuring it aligned with my vision for developing a duplex in this thriving Charlotte neighborhood.

By leveraging my knowledge of the situation and the property's potential, I negotiated favorable terms and secured the deal, ensuring it aligned with my vision for developing a duplex in this thriving Charlotte neighborhood.