Charles P.
Taking Over Existing Leases in Michigan
7 May 2024 | 4 replies
It can be a challenge to get them after closing, if at all, as no one is incentivized at that point.A lease is a contract and it cannot be modified or terminated unless both parties agree or there is a specific provision triggered in the lease.
Shannon Garst
Need advise on setting up an LLC
7 May 2024 | 13 replies
Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.
Jack Maisch
FHA Loan to LLC
6 May 2024 | 1 reply
No - FHA loans cannot be held in an LLC or it will trigger the "Due on sale" clause.
Keonnee Linnell
Insurance policy on a Sub-to
6 May 2024 | 4 replies
I would obviously like to not trigger a Due on Sale clause.
Account Closed
Found Deals Off Market - Here's How
6 May 2024 | 62 replies
"Defamation is a communication that injures a third party's reputation and causes a legally redressable injury."
Justin Melton
Ceiling Fan mishap
4 May 2024 | 8 replies
I just had a guest check in and the ceiling fan blade (less than a month old) fell off and hit him in the head (no injuries or anything) but they would like me to come take a look at it.
Christian Weber
Primary residence to LLC (and yes I did a search :) Florida
6 May 2024 | 12 replies
I know such sale would trigger transfer tax and stamp duty tax but I think the eventual capital gain tax down the road is probably more to offset.
John Lim
First property and STR loophole with bonus depreciation
5 May 2024 | 2 replies
Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.
Cole Oliver
Question About Raising Rent
6 May 2024 | 12 replies
Increasing the rent that much will trigger vacancies.