I would like to share a nightmare I am living lately.

Hey @Deborah Williams, Multifamily Live is a virtual event from May 9-11th.

Hello, I currently live in Dalton, GA.

There are set fees like any grantors tax, HOA disclosure package, then fees that vary, like settlement fee, deed prep, prorated real estate taxes, commissions, closing cost assistance requested in contract, etc.

So from 2025, I’m thinking of living upstairs and running bottom floor (half of total RSF) as an STR.

The problem with that is two-fold: first there are likely existing assets that are not replaced that qualify for shorter asset lives so you're leaving money on the table, and second you have no cost basis for the removed assets replaced in the remodel as they're intertwined with the initial building cost basis so you'd technically still be depreciating retired assets which is tax fraud. 

However, there are tenants that have lived in at least one of the units that have been there for over 20 years.

Even if you purchased your home at the very tip-top of the market before they dropped by 19%, if you would have simply paid your mortgage payments, mowed your yard, and stayed in the house for 6 years (you had to live somewhere during that time), you would have made money on your home...and that was the worst drop recorded.

This could be attributed to the higher quality of life, better schools, and overall satisfaction with the living conditions in the more upscale areas and there is no thing like 0 vacancy. 

@Samuel GuanAllow them to terminate, make the repairs and move on; if you have someone that doesn't want to live in your apartment any longer let them go.