up there,   the city council 'turned blue' in the last election cycle so some kind of regulations are probably going to arrive eventually.I do intend to eventually sell off my remaining seattle property,  but for now as its fully updated,  meets inspection rules, attracting good tenants and running smoothly its in the cash-cow phase of ownership and I'm not in a hurry to divest it.

I was just looking to get some of your opinions on the long term outlook for landlording/ property ownership, specifically dealing with the current political situation/administration. 

How does that work with transferring basis?

Did he transfer any security deposits and last months rent (or sign off that there are none) That all could come into play if it gets to court.Did you send letters to the tenants stating you are now the owner and rent should be paid to you etc?

When you sell the proper, the question becomes whether the warrantee is transferable. 

I am commenting so I can be updated… the only advice I can offer bud is when you do your HELOC open up a separate bank account move the funds of the HELOC into your private account and then transfer it into the account for the Duplex that way when it comes for taxes you can write off the interest payments for the HELOC.

In additon to that, non local lenders often don’t know that Philly transfer tax is 2.14% so their loan estimates are often incorrect.

Transfer money out of the HELOC into another account, then transfer the money back in.

A PMC should only be asking you to add them as additionally insured to your property insurance, as a PMC cannot get liability insurance on a property they have no ownership interest in.

Hey guys.  I am scheduled to close on a property that has 3 doors/3 tenants.  These have been long term (1 tenant has been there 38 years) tenants.  Currently all 3 leases have expired and they are living there month ...