Typically, HUD charges a daily fee for extensions, which varies depending on the property type and the number of extensions requested.To request an extension, contact your HUD representative or the Asset Manager handling the sale.

Some highlights: I have 3 homes up on Platform and manage another 2 homes.

Tennessee’s no-state income tax policy can be a nice perk for long-term wealth building.Indianapolis Pros: Having real estate connections in Indy could give you a competitive advantage on deals, local market insights, and trusted contractors, which can be invaluable for a BRRRR strategy.Ultimately, your “competitive advantage” might be stronger where you already have boots on the ground. 

From there, depending on the process, we direct them to the next step.

Do I consider it as an SFH and assess potential rental income based on SFH?

I recommend that you learn the tax code and take ownership over your strategy.Not having some foundational knowledge and an opinion on how to approach taxes as a business owner is a huge mistake.In my experience, every single business owner who says "I just let my CPA worry about it and I focus on my business" is doing a suboptimal job at tax planning.They are likely missing out on 10s or hundreds of thousands in saved dollars every year.Stop making excuses and get to work.Just a few months of part-time learning about taxes will pay you for the rest of your career.

You may find that you can rent a much nicer condo compared to what you would pay on a mortgage for the same number.

Purchase price: $50,000 Sale price: $160,000 Contributors: Peter Vekselman Partner Driven and Archie Raglin bought this Pleasant Hill property on Benton St for $50,000.

So they can do a 1031 only on their portion. 

It is extremely difficult and managing all the trades, managing the budget and the schedule to get the project completed on time as the quality level you expect.