I use QuickBooks Online for my clients. 

So just recognize this could be lengthy process if they default.If it was me, I would take it as a non-refundable deposit with a letter of intent and a purchase and sale agreement that the money is a down payment, is not refundable and they must execute the closing by a specific date otherwise they forfeit the money.

Sales price - assumed loan amount = cash you need to bring to close.

We've thought about subbing out to a proper "property management" company but we really don't need help collecting rent or expenses (this is all done electronically online) or even finding new Tenants on the odd occasion when we have an Apt turnover (we use Brokers for that) ...

Does resent comparable sales impact office values in same building at all or we only need to look at CAP rates and determine the value based on CAP rates alone?

I will reinvest all of the funds from the anticipated 600K sale (less 35K in selling costs).

Didn’t see sales record online Originally posted by @James Wise:Originally posted by @Chris Seveney:@Lenza M.Ok so I watched the video and did a quick google search.

Junior goes to sale, you are successful bidder at sale.

Also, the day after the sale the IRS will want their cut, or you may have a penalty for failure to pay estimated tax.

It's going to be a money soak and large loss because it seems like the principal wants to outsource eyes, ears, and skills and is willing to pay someone else to bring their own people which costs 2-4x as much as having some of your subs and eyes on the job.If I had other pressing business concerns, I would sell all of the properties in a portfolio sale, bank the money and repurpose it, and let someone else do it all.