And I feel this book took my personal due diligence (and how I look at deals) to the next level.

Hello all, I am coming to the end of the lease with my first tenant in a duplex that I'm living in, and plan on not renewing the current tenant's lease for various reasons. 

U think @Russell Brazil or @Steve K. are not going to be there at the final walk through to make sure their clients are protected ????

Many older owners bought new when starting retirement or before and have aged along with the complex.

Welcome to the community and be ready for a huge amount of information at your finger tips.

I provide the 3115 and 481a adjustments for my clients and their tax professionals with the cost seg studies.

Do you have a perspective of the strategy you are going to follow?

If everything goes right I will be able to refinance and will have created 25% equity, or I may end up having to bring $10-20k to the refinance to get the 75% LTV depending on the appraisal, but even if that's the case it's still a great deal.

This means that if anything goes wrong with the property—like a tenant getting injured or a lawsuit related to the rental activities—the LLC, not you personally, would be the one held responsible.

And we add the cost of the W/D into the rent, so any units that make it a little more than 1.5 years are profit.