If they're already executed, ask the attorney to amend them, and next time let your CPA review before they're signed.Lance gave the general rule for federal income taxation.Not all states conform to the federal treatment as far as income taxation goes. 

If you cannot interpret the search results, pay an attorney to review and confirm lien position and which if any liens will survive.Based upon the title report/exam it should become pretty clear whether or not the property will actually sell at auction. 

I typically include reviewing lease information as part of buyer's due diligence.

Also can they call out other parts of the house for not being to code while they review my addition?

These could be run as rentals or sold as condos.I would consult with a civic engineer who understands land development and can review & explain to you the full potential of what you bought.

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*This link comes directly from our calculators, based on information input by the member who posted.

View report
*This link comes directly from our calculators, based on information input by the member who posted.

If this is the case in the state of purchase and you aquire the property in occupied status review the current lease. if you do not want to go through all the extra inspections and avoid sec8 you'll have to give a good reason to ask current tenant to leave, since they have rights and option to furlough rent due to covid its a risk. its all about your flexibility as an owner and landlord.Best of luck :)

I am having clients get offers accepted in multiple bids and the losing out during attorney review.

Before you jump on me to check the megathread, I think my question is a little more detailed than I've researched.Yesterday, I was able to pull up the National Business Review with my Metro for 2019 top 100 agents, top residential teams, and top Brokerage rankings by revenue money.