This comes with some other ramifications around legal liability and the ability to get a mortgage on the property.The other way to fix this is to create an LLC now, and both you and your MIL contribute the current properties into the LLC, then the LLC 1031 exchanges the old properties into the new property.

Yes, I plan on going to Orlando early next year a few times to look for properties. 

While this is all going on, what research have you done to compare LTR and STR options?

What made you interested in investing in this type of deal?

I live on long island and run a landscape business here right now. 

& different parts of the asset can be depreciated on different schedules.To find out the useful lifespan of each component, you do a cost segregation study to analyze all of the parts.The raw land can't be depreciated so you start by giving that a value first.But other items can be depreciated on a quicker timeline.A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.The IRS has a depreciation schedule for each type.Some parts are 5 yrs.

@Hai LocTruthfully I think Hamilton is great, however I’d need to use one unit for my mother... who isn’t too keen on Hamilton.

Just curious on feedback from members on the forum how their syndications went/are going.

HELOC on the 3-Plex?

Purchase price: $11,500 Sale price: $14,000 Contributors: Peter Vekselman We purchased a property on E 12th St, Junction City, KS, on 10/15/2024 for $11,000 with our partner Archie Raglin.