Understanding ARV may take a little time and it changes as the market changes that is why you must always keep a close eye on market conditions.

I understand you are left with the mess and it cant sit - but there must be something you can do I.E put a lein on his remaining belonging (if there are any) bank accounts, cars, ect.

I'm thinking of buying a Condo in a fairly popular tourist destination a couple blocks off the beach in Hawaii.

With the existing law, you can have somebody in your primary residence renting it out for almost 2 years, without depreciate it, then sell it with no capital gains as long as you've owned the house for five years.With the new law I now I wonder when you must start depreciating it before they come after you.

I agree it would be useful to visit an actual sale.

Now, I must admit…I agree.

As far as the location I'm somewhat well versed from my time in town visiting friends and family over the years but could use some local insight on management companies, local realtors, contractors, etc.

According to the mass Landlord / Tenant laws: "On the anniversary date of the tenancy, you must send the tenant a statement of the interest owed with a check for the interest, or you must notify the tenant that s/he may deduct it from the next rental payment"Sorry if I'm talking in circles, I'm just trying to understand if there's anyway I can remove myself from this process while at the same time making sure the tenant gets their interest in the form of a check every year...

Offer to pay for his entity creation and a review of his taxes by an accountant instead of Turbo Tax that he must be using, because I'm unaware of any scenario where it makes sense to avoid making money due to fear of taxes - in exchange for granting you the lease option and covering those expenses could be your option fee.Rral Estate is a tax shelter...

But if you are looking to refi instead of sell as an exit strategy you will want to know who will be lending you the cash to take out the hard money lender.When dealing with 1-4 units you will be most likely getting a personal (conventional) mortgage so good credit is a must for the most part.