Both my business partner and I put in 15k each to cover taxes and any other expenses that might come up.

Typically the property needs to produce 25% more cash flow than the expenses and the loan goes up to 75% of the value.

If this is an estimated tax payment for your tax return you file in 2025, they certainly aren’t going to place a lien for simply not making that payment on time.  

We also collect a cleaning fee and security deposit for each rental.

I'm not sure if that works for solar, but it opens up more possibilities.

People are popping this stuff all across the smokies and nobody is renting them except maybe a few weekends during peak fall coming up.

@James McGovern - when it’s clear they aren’t or can’t pay then our motivation is to get them out as soon as possible to get the unit rented to a better paying tenant.We serve them with a NTQ.We offer them cash for keys (the equivalent of our attorney’s cost, which is about $1500) on a tight window of time.We explain how bad having an eviction on their record is for them.Still, only about 30% take us up on it often citing that $1500 isn’t enough moving money.

Even if rates went way up, I am confident you would still be ahead dodging all those fees and just paying down the principal after the PP falls off.Bottom line is this refinancing is too slim to be worth it right now.

I suggest an Ohio LLC nested within a Wyoming LLC (set up through a registered agent service).

Or is it simply cosmetic or preventative or an upgrade?