By leveraging real estate in areas with lower entry points and higher returns, you can grow your wealth more effectively without the heavy financial burden of a luxury home.

We thought about hiring a lawyer but the legal fees were expected to be in the range of $10k to $15k and would have taken months (if not years).

They will confirm to you that the number has been steadily increasing year after year (Covid or recession effects aside).

.: In my (non lawyer) experience John is correct here.

Continuous participation.This is great if you are talking about an SMB with effectively connected Real Estate.Note rental activity is considered passive unless you meet the RE Pro threshold of 750 hours and more than 1/2 your time.This is the conundrum for passive real estate investors.If you have a full-time job or a large, time-consuming business it can be difficult or impossible to qualify.A huge loss from depreciation if you have one LP investment isn’t going to do anything for you.

I’d recommend consulting with a lawyer who specializes in contract law to understand your options and how to protect yourself moving forward.

During ownership, these tend to be more expensive to operate relative to other real estate and lastly, for the limited few who can weather the storm and can effectively operate these properties, there is still a need for refinances.

Have a lawyer represent them to draft the docs.

He went thru a divorce both had lawyers .

Then you have someone who understands the investors goals well and the technical experts really working together effectively.