Since you started renting the property on December 1, 2023, you can only deduct expenses like utilities, insurance, and repairs from that date onward.Any expenses before that date (like remodeling) are considered capital improvements and must be depreciated over time, not deducted immediately.

As soon as you get an offer or 10 minutes before the buyer’s agent shows the property?

Next, he wanted to check the circuit breaker.When it came time to inspect the indoor unit, I informed him that I needed to ring the doorbell since the unit was tenant-occupied.

They accepted terms for creative financing for 1 year allowing me time to improve rents and refinance with very little down payment.

You might want to include clauses that adjust the split based on performance or time invested.Potential Risks:Market volatility: The Georgian real estate market might be subject to fluctuations.Regulatory changes: Laws regarding short-term rentals or foreign ownership could change.Currency risk: Since you're dealing with EUR in a non-EUR country.Overestimation of Airbnb income: Ensure your projections are conservative.Renovation overruns: Both in time and cost.Partner relationship: Ensure all terms are clearly defined in a written agreement.Regarding the 70% rule, remember that this is typically used for fix-and-flip properties in the US market.

This deal highlighted our ability to identify market-ready properties and move swiftly to generate a solid profit in a short time frame.

Things are going well with this property which has sparked this desire to seriously pursue Real Estate Investing as a full-time business!

In an installment sale, the seller can spread out their capital gains taxes over time instead of paying them all at once.

Lots might have good profit, but when you split those in half, and take some risk into account you can see why we shoot for the best.

Communicate, treat everyone with respect, and provide ample time.