Typically, you just require that the property be vacant for closing.

My most common interaction with them is typically taking over their management contracts, however.

What are a few pointers you would give a brand new investor who wants to utilize PML? 

It would be the income after paying all expenses like mortgage utilities etc and property manager

Rogers Park, Albany Park, Avondale, Irving Park, West Town, Portage Park, Pilsen, Mckinley Park/bridgeport.We find cashflow by bringing rents to market (typically a 25%+ bump vs what they are being sold rented at) so you need know what looking for when scanning the deals and 4 units are what tends to work best.

Here's why:Quick Turnaround: Fix and flips typically have a shorter investment horizon compared to long-term rentals.

However, there are other strategies you can consider to optimize your tax situation:Maximize Deductions: Ensure you're fully utilizing all deductible expenses related to your rentals, such as maintenance, repairs, property management fees, and travel expenses to the properties.Depreciation: Make sure you're taking full advantage of depreciation on the properties, which can significantly reduce taxable income.Cost Segregation Study: For larger properties, a cost segregation study can accelerate depreciation on certain parts of the property, offering more upfront tax savings.1031 Exchange: If you're considering selling any properties, a 1031 exchange allows you to defer capital gains taxes by reinvesting the proceeds into another rental property.Energy-Efficient Improvements: Tax credits may be available for making energy-efficient improvements to your properties.Rod

Amend the Lease Agreement: Utilize Avail's amendment feature to update the lease.

Yes, he will be paying half of my mortgage and half of my utilities.

They will typically complete both approaches on a 2-4 Unit.