Increase Your Cost Basis: Document and include the costs of significant improvements made to the property in your cost basis.

I recommend you do a google search for "real estate seller financing" and educate yourself through some blogs, then have a conversation to see if the two of you can agree on terms that work for everyone.Be sure to use an attorney to draft the documents, not the same one the seller uses.

To address this, request documentation, update the lease, address rent payment, consult an attorney, and maintain a positive tenant relationship by communicating clearly.

I currently only have 1 duplex, however I want to set this up right so it will work for any size portfolio.Currently I haveHome folder>multi family/single family/legal documentsInside the multi family I have Name of property-> general property maintenance/first floor/second floor Inside of first floor (the one currently rented)I have, pictures (before and will have after) / lease documents / a spreadsheet with each month, what day rent was paid, if it was late, if late was fee paid?

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

[Timely: appeal deadline Monday Nov 18 2024 - need to submit by Friday 15th - tomorrow]The Property: I own a 4 plex in Seattle (magnolia) Washington bought in 2014.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

I've considered a short sale, but am under contract, I think, with a buyer already due to the commitment to sell document I signed...

A good vendor will often provide insights and a documented professional opinion, which can serve as third-party confirmation.