However, if the thought of diving into tax forms and recalculations seems daunting (and it can be, given the complexities of tax laws and the potential for significant financial implications), reaching out to a CPA might be the smarter move.

If you're just buying the building the building and leasing it to an operator, your list of things to do and potential bumps in the road are somewhat reduced, but either way, proceed slowly and methodically, especially if this is your first RAL.

There are strategies for folks with short-term rentals (7 days or less) that could work here potentially. 

To ascertain the effect on your tax status, including any potential advantages and deductions, speak with a tax specialist.Consider how your condo purchase fits into your long-term real estate investment strategy.

I understand what motivated sellers are and when you do, you will see that you CAN NOT target them.So I focus all my energy into being the easiest person ALIVE to be found to a very specific audience: People that are willing to sell their house below market value".THAT is how and why my wholesale deals reach 6-figures+ consistently.Want more direction?

Hey there, if you are in Cincy on the 15th, this a potential event to go to- https://www.eventbrite.com/e/carex-free-monthly-brokeragent-meet-up-tickets-807011241347?

How does one research insolvent owners/find defaults and to pursue potential fire sales if/when said defaults occur?

Embrace this win-win opportunity and unlock your rental property's full potential with CityFHEPS tenants.

Nor are we fiduciaries – another red herring.Educate yourself about the licensing and usury requirements in your state before you speak to a potential lender, @Nicole Austin.

Yes, there will be limitations of a TN financial institution as I live in CA, and I have read articles about potential tax and filling season issues if you bank outside the state where the business is registered.