was always a fun conversation from those days (note that this is only lawful if you are actually licensed and formally affiliate that license with the firm you work at, which requires approval from your employer).And then I noticed several REI pick-me-up deals (a 'pick me up' deal is where a big bank can't figure it out, and it falls in your lap two weeks into escrow, with two weeks until scheduled close of escrow) where I figured it out when my LO couldn't and/or without his input.

By painting the brick you are adding to the cost of owning the rental that will come out of your profits as maintenance.

She will get each beneficiary to sign off on allowing this to happen, lessening their inheritance cash-wise but keeping the family in a home.My idea is that the trustee daughter could purchase the home, but could do so instead through a sort of owner-financing where the Trust finances the asset to her directly rather than buying it in full at great cost and taking out a mortgage on an already paid for property:- Property is in Trust and is fully paid off,- Trust finances the property to Trustee for closer to market value, and payment can still be set at 1500- No/less down payment required- Any interest rate, maybe 0- Tenant family makes rent payment of 1500, which pays off the property and pays into Trust- Beneficiaries' % share accrues gradually as payments are made- Set future balloon payment if necessary (if Balance required at a certain time, for college, etc.)This would decrease the out-of-pocket cost for the Trustee purchaser, and increase the amount that each beneficiary will receive (eventually).I have no Trust experience, though, and I'm hoping to hear from the experts.

Also, thanks Steve, I'm glad some people agree with this required license being too excessive.

The seller needs moving money, there are oftentimes an arrears that has to be paid on the loan, there are oftentimes HOA fees that are due, there are title costs, there are escrow costs, usually there is deferred maintenance, you have to make mortgage payments out of pocket until you get a renter in there, you have to pay utilities and taxes, and you need reserves in case it all doesn't go as planned.3.

My story is similar, I started with a rental, it was a lot of hassle to open LLC as the mortgage at the beginning won't allow it, but it is always convenient to separate the accounts for book keeping.You will see this as soon as you have to do your own taxes first time, it will be a nightmare to collect everything is you incur into maintenance cost or any other expenses even if small.

Zoning should not be too much of an issues, but uses may alter parking requirements. 

If you require assistance in Lexington, that's my expertise, and furnished rentals are consistently sought after here.

The lender selection is vital to a successful 203k and they area also required to select the 203k Consultant.

Since we have mortgage on the selling property,  are we required to get a morgage for new property as well or we can do all money down ?