If investing individually, a lot of the good locations are as competitive as ever with prices already on the rise, and the property has to be ripe for extensive rehabilitation or development. 3.)

Once we got back I had a call from my realtor saying that Fannie Mae decided to go through with the extension (scare tactics) and so it was BACK ON!!!

They have told me that in 2017 they made a profit of nearly $30k after doing extensive renovations (new deck, floors, showers, etc..) this is where they live and they do all of the work. 

If an extension is requestedand/or approved, our approval may result in per diem interest being charged through the closing.• The approved buyer for this transaction is XXXXXXXXXX & XXXXXXX  and the gross sales price of theproperty is $150,000.00.• Another buyer cannot be substituted without prior written approval from SPS.• The following closing costs that have been negotiated and agreed upon are:- Maximum Real Estate commission/fees paid: $9,000.00(See guidelines outlined in Section 7)- Maximum cash for cooperation incentive to seller (if approved by SPS): $0.00(See guidelines outlined in Section 8)- Maximum proceeds allowed to additional mortgage lien(s): $16,000.00• Please be aware that any additional fees or costs that are not approved as of the date of this letter will not becovered by SPS.

https://www.irs.gov/pub/irs-pdf/i1065.pdfStraight from the instructions.My advice if it will make you feel better have the CPA file and extension and handle it outside of tax season when its not so busy as there should only be balance sheet and capital account entries.

I’m thinking of calling him back and offering to put up the fence if he signs a one year lease extension with a 2% rent increase.

If it needs repairs how extensive are those repairs.

LOOKING FOR REFERRALS ON A FAIRLY EXTENSIVE REHAB PROJECT.

How extensive was your due diligence on each, how many did you visit in person etc. 

Sep can be established and contributed up to extension deadline.