But if the county re-assesses every 3 or 4 years, you will pay market prop taxes soon enough.I’ve been an investor for 46 years and this is NOT something I would do.Over this time, I have seen investors get themselves in trouble by being “too smart by half” often with creative tax structures that end up causing trouble but this is a another danger zone in my mind.I’d think long and hard before embarking on what you propose.If the acquisition doesn’t stand in its own merits and one needs to resort to chicanery to make it work maybe it’s not a deal.just my two cents.good luck,Arn

Your insurance company will work the other units insurance and the condo master policy to determine who should pay what, then they'll get it fixed.

I showed them the whole business model and spreadsheet...We ordered the Feasibility study and appraisalThen they gave me a Term Letter that states everything even construction cost analysis by their 3rd partyThats where we are atwe have a GAP of $2.7MWe came up with the strategy last night.. that at the very least we need $1.5M cash to pay a balloon payment by June 27 or it forecloses... the lord will not let that happen.So I have the green light from the Lord to talk to all the interested investors as He is opening up the doors of Favor

That's also an option to temporarily bridge the gap of quitting a full-time job.It's also important to be making enough on your properties so you're cash flowing enough so you can buy more property - sounds like common sense but as mentioned you can always freelance or do something you enjoy part-time to bridge the gap in pay.

I've thought about buying on the high end of what I could afford (in highly desirable areas) in the hopes the property values will climb.Should I forgo financing entirely and buy something "cheap" that I can pay in cash or take a minimal mortgage on?

@Chris Seveney  I saw your answer to this question and was wondering how you manage the LLC, do your retain your LLC mortgage, and have the tenants pay as they always did to the LLC or did you have all payments to the trust and new accounts with the trust on them.

I verbally raised his rent several times, he refuses to pay the increase.

The CRM you are currently paying for, may still have the functionality you are looking for.

Hi Kiley, the first thing you need to do is ensure you are paying taxes on your rental income - you’ll need 2 years if you want a conventional loan.

You get what you pay for.