A little background information in case it's important: there are 3 partners holding equal ownership in the LLC, only one of us lives in MI.

(We will be living in the house and running the business) Never done a 1031 before.

No language requirements.Really, Russell, if you ever need to know anything, I lived in an Athens suburb from 2000-2007, and I have lots of family over there.

(iii) The grantor of a living trust that was named in the title to the property when the notice of default was recorded.

Hi everyone, I just migrated here in the US for around 6 months now, and I'm really fascinated with real estate investing and its potential to change lives.

I think there will be some additional cost to do refi and reissue of title policy.  

I agree with Mike and in addition would add a lease provision which details your minimum irrigation standards for the lawn. 

Purchase price: $175,000 Cash invested: $5,000 I invested in my first condo to live in Minneapolis in January 2022 (fresh out of college).

Also, this would give more time thus putting you in Long Term Capital Gains Exemption if you've lived in the home 2 of the last 5 years. 

For things like that you can present the tenant with the bill and they add it to the rent and you pay the bill directly, so you know it is paid.Also make sure the damage deposit is transferred to you from the previous owner at closing as that money belongs to the tenant.