This is your first property and you want to set the deadliest deadline (Your first guest) without knowing anything.

I also heard horrible stories that if you don't file it right, it will take months to evict a tenant, etc.

This approach simplifies the sale and avoids unnecessary legal or tax complications.If she want to share the proceeds and tax obligation in a technical way, she need to file a partnership return for this property.This post does not create a CPA-Client relationship.

This raises a question because we had a lease agreement on file showing a rental amount of $2,000 per month."

We have to file the paperwork for the DC complaint.

I'd like to share the excel file but I'm having trouble navigating FilePlace to upload it.Appreciation vs. cash flow, I’d prefer a balanced market that offers some appreciation potential.

I'm sure there are many more experiences where the contractor hasn't fulfilled their scope of work and gotten away with rushing the project to meet the deadline, And, I don't want to be as naive to say that I'm that 1% who can have complete quality/operational control, but I'm confident I can establish a system and hire independent inspectors to review the contractor's work. 

Then the compile everything at year end and file taxes.

This keeps them motivated.Clear Contracts: Make sure your contracts have deadlines and penalties for delays.Regular Check-Ins: Visit the site often to catch issues early and keep things on track.Scaling UpMultiple Contractors: Work with more than one contractor to avoid delays.

When you build a relationship and use a Banker time and time again they know your file, credit, and can determine what program would be best for the next step or cash out refinance.