What are the differences if any to Airbnb Write offs and tax benefits compared to traditional rental or small multifamily rental properties?

Hi,I’m about to write an offer on a condo but am torn between requesting it to be vacant or to keep the tenants there.

If you have a lot of money in the bank you could write a check to the reverse mortgage company for the $120k as the balance is increasing monthly. 

@jason chaseWhat your lender is asking for is what we commonly call a "comfort letter".It is a checkbox on their list, and will be scrutinized with the attempt to shift liability to the accounting firm that wrote it should the loan go south and the lender cannot collect from the lendee.The AICPA as well as errors & omissions insurers strongly discourage tax and accounting firms from writing these letters. 

I told her that she needed to give legal notice in writing which she refused to do so I gave her 30 day notice to make intentions clear for all concerned. 

We than always make it clear in writing and in conversations that the client always may go outside that and choose their own inspector.

Put a For Rent swipe sign in front of the property...it's a great cheap date.Best.It might be a good thing to have 150 calls in the first two hours but I actually write the add in such a way that I will get many less.

Hi Duncan, Yes you can negotiate during the due diligence stage and you can try to negotiate at any point in the sale process until close.If you end up not being able to move forward during your due diligence, your earnest money deposit should actually be fully refunded to you, provided you put in the contract that your offer is contingent on your ability to do your due diligence.There were several deals I worked on where additional repairs were found during our due diligence that necessitated negotiation.What we did was thoroughly explain to the seller the impact of the additional expense and then offer them the options of moving forward at a lower purchase price, or working out terms at the same price (owner financing/sub2/something else), or cancelling the agreement.Usually, the seller would choose to move forward at a lower purchase price but we definitely had parties choose to cancel or finance too.If they chose to move forward at a lower purchase price, we'd write up a simple 1-sentence addendum to the original contract stating the new purchase price and have both parties sign.You may want to include a deadline in writing of when the seller must respond by before you move forward with cancellation so you don't lose your EMD.

You can still have them write and send letters, but the letter should be vetted/read over to make sure there is nothing in them that violate fair housing.

If you decide to let them do it just make sure you put in writing that they will install and remove when they move out.