I have an inherited tenant that I was putting up with because although her rent was always late... she did pay and I wanted to avoid the turn cost and headache of getting her out.

So, I have no idea how much money I owe for 2023&2024, how much money is actually mine, how to take advantage of tax deductions/credits/RE professional Status/ renovation costs/perform a cost segregation, if I really need a wealth manager at this point and how to take out my retirement investment and move it to a mutual fund I run independently.My ultimate goal: create systems for my corps to run smoothly and optimize business-related expenses,  keep my books up-to-date for both corps so I know my input/output, pay quarterly taxes throughout the year, give myself a modest monthly income and  continue to preserve/build wealth and grow my RE PORTFOLIO!

The purchase price stands at $229,000 with an estimated rehabilitation cost of $50,000.

No additional costs in projections. 

Tell them you'll reimburse them the cost of the test if it comes back positive.

How much will it cost to renovate?

Cost me 200 K is taxes because I could not complete the 1031 exchange.they talk a good talk BUT DOT NOT DELIVER.

It costs so much to sell a property and buy another one, and is such a hassle, that if I were in this situation I'd strongly consider just paying the special assessment and keeping a property that's otherwise great.

If buyer used an LLC with no net worth AND the loan is non recourse, then seller is effectively defrauded out of their property. 

If you skip using a new loan, you avoid the costs of origination and high interest rates, It works well for our clients in Phoenix and in CA.