Hi all,I am looking into quit-claiming my southern California property to my Grandfather's family trust and had a couple questions on any tax situations that might occur.

If you figure roughly 7% of your gross rents for these expenses (they may not occur in year 1 or year 2 but they WILL happen) then this will help give you a better picture of your true NOI.

Charge for damages as they occur or as you find them.

Additionally, I Wanted to see if anyone had experience dealing with an underwriting type contingency where this type situation has occurred and how it panned out.

I have a family so it never occurred to me, but if you're buying a multi to owner occupy and renting a spare bedroom, that's like House-Hacking^2!

If you find something on the 11th day, then another clause would look like this, if seller does continue as promised, EMD will be liquuidated for damages and no fault will occur.

It wasn't obvious because he had brought his wife in and wiped the floors down to clean up the water.I would check the floors and under sink for signs of surface water.Maybe the tenants kids accidently overflowed the sink or dumped a bucket of water, then cleaned it up, but not before it ran into downstairs ceiling.

Net result is that I've agreed to another deal that should close in June.I think growing pains have occurred.

It is a 99 nissan maxima and I recently got into an accident so the hood is kind of bent up.

@Tyron McDaniel @Mark Robinson It never occurred to me to JV with a developer by contributing the land as equity.