Legally, Is the tenant obligated to provide that information?

Purchase price: $257,150 Cash invested: $12,000 House hacking Duplex purchased using Conventional 5% down loan.

If you don't have time to provide feedback this can result in a lot of work at the end of the year for you and the bookkeeper. 

If you're looking to hold long term, and want to add value and cash flow, then I would consider adding the unit.It will take away some buyers, and you would need to work with your lender.

well since banks basically dont do this kind of lending at all for 95% of folks.HML  PML or  money partners is the only way to do it .. short of using your own cash.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Not a fan of D.C. multi family right now prices are high with rates very hard to cash flow and unless you are playing in the 1.5mil+ you are in at best borderline neighborhood’s & also competing against a ton of newer apartments in most cases.

I own 20 doors which provides nice income. 

And, fair warning to all (and we will give warning, except in cases that are so long overdue we should have dealt with them years ago), thinly veiled attempts to drive business, without a real effort to provide practical advice, will be similarly moderated going forward. 

Are you using other peoples money, hard money, conventional, or your own cash?