If, though, the county's values are too high for your properties (IE more than you paid) - you can still challenge by filing an appeal with the Board of Equalization by July 8.Appeal form is on their website - search Jackson County Board of Equalization.Ron

 No.....with a flip or a spec build, all the accounting is done at the end....proceeds from sale less total costs equals profit.  

Background: Spouse's grandfather passed away recently and left his 4 bed 2.5 bath home to his eight (8) kids equally.

Also, for 3-4 unit properties they will also need to pass the FHA self sufficiency test which essentially calculates the projected rent of all units minus vacancy, uses 75% then that number must be equal to your monthly mortgage/PMI/Tax/insurance amount.

You need to get past that belief first or REI is not for you. 

Emerald 30 Year Fixed Calculator Property Value/Purchase Price: Address, City, StateIO TermBorrower Track RecordBorrower Basis (if Refi, Purchase + Rehab Spent) Cash-Out (if Loan is greater than Basis) Borrower FICOAnnual TaxesAnnual Insurance Premium Monthly HOA DuesMonthly Gross Rental IncomeLoan Amount Starting Rate Non-LTV Adjustments Final RateMonthly Principal And Interest Total Monthly Expenses Monthly Cash FlowProperty Debt to Income$ 1,355,000 Fully Amortizing4$1,234,000 No720 $ 16,938 $ 4,743 $-$ 11,525$$ $60% 813,000.006.75% 0.000% 6.750%$778.32 949.15 500.8565.46%$$ $65% 880,750.007.25% 0.000% 7.250%$886.83 1,057.66 392.3472.94%$$ $70% 948,500.007.25% 0.000% 7.250%$955.05 1,125.88 324.1277.65%*properties owned or flipped in last 36 mothsBenefits:Close in 15 days or lessMinimal paperwork (application, lease agreement, corp docs, escrow docs) BPO with rental survey allowedAdjustments:- 0.50% added to the starting rate for borrower cash-out- 0.50% added to the starting rate if borrower / guarantor has no track rec - 0.25% added to the starting rate if borrower / guarantor FICO is between - 0.25% reduced from the starting rate if borrower / guarantor FICO is grea - 0.25% added if Property Debt-to-Income (PDTI) is between 80% and 90% - 0.25% reduced from the starting rate if Property Debt-to-Income (PDTI) is par pricing will provide a 5% bonus to commissionadd 0.5% to rate will provide a 10% bonus to commission$$ $75% 80% 1,016,250.00 $ 1,084,000.007.75% 8% 0.250% 0.250% 8.000% 8.250%$1,100.65 $1,202.03 1,271.48 $ 1,372.86 178.52 $ 77.14 87.69% 94.68%po tower / guarantor FICO is greater than or equal to 750

Seems hard to find a clear-cut answer on that. 2) In an LLC of say 3 Members where the Operating Agreement states all Member share equally in depreciation proportionate to their shares of the LLC, does that mean *each* member could take up to a 25K loss as long as all members are under that 100K limit and participate in the management?

@Ronnie Hutchinson - if you want to get it rented ASAP and it’s large, offer it furnished by the bedroom for 6 months minimum, ideally 12, to working professionals, at like 600-700/room plus equal split of utilities.

You sell a piece of property that has profit in it and using the 1031 process purchase new replacement real estate.The only potential impact is that profit does not equal equity. 

I had a similar situation in JC where the tenant didn't want to move out and wasn't paying rent so i asked the seller for a reduction in price equal to 3 months of rental payments and i would handle the situation after we closed.