@Karthik NatarajanProps to you for doing your due diligence.In many areas, assessment amounts are adjusted upon sale of the property so it is NOT unusual and in fact it is quite common for property taxes to increase significantly for a new buyer.Absent any other data, I’d trust the calculator.You could also call the County Tax Collector or Asssesor to verify the information.Good luck.Arn

If you have laundry, you want to reduce the amount of laundry fights your tenants have.

My team and I have had a good amount of success in the city and I am always happy to talk about Detroit real estate so feel free to reach out !

There are tenants living in the downstairs unit under a 1 year fixed-term lease ending October 31st 2024.

Hoasty.co does free AirDNA reports you may want to leverage, and you can submit an unlimited amount of units to get the data.

If you got the property using a second home loan, you want to be careful with the amount of days that you stay in the property.If you stay in the property for more than 14 days, it may potentially be hard to utilize the losses against other forms of income.

Investment Info:Single-family residence fix & flip investment.

Ask to see a copy of the lease and look for the length of lease, current rent amount, tenant obligations like paying for utilities and adhering to house rules and look for Landlord obligations like things the landlord may currently being paying for (like trash and water)Make sure to have an assignment of the lease and clear language on the security deposit WITH interest shall be transferred to the new owner at settlement.Consider tenant quality - what’s their payment history looked like, obtain rent receipts or bank statements from the seller to review on-time payment history.

"If you or your spouse actively participated in a passive rental real estate activity, the amount of the passive activity loss that’s disallowed is decreased and you therefore can deduct up to $25,000 of loss from the activity from your nonpassive income.

So in this case if you win the action on this property, you’ll have to take over the loan that in encumbrances by TD Bank or the amount of 121k?