A little bit of charm with them has gone a long way**************************** Good for you, if that works, although, it is technically not legal to dictate who the appraiser is, either by you or anyone directly connected with a financial benefit resulting in the transaction (i.e. anyone at the Lender that is tied to the transaction closing).

As you can tell already, closing costs are a big part of buying a property which brings up the importance of negotiating for seller concessions (seller pays part of closing costs) during the transaction.

We've grown our portfolio up to 22 units and have a mix of tenant payment methods: manual cheques (fun), e-transfers, bank counter deposits and some have done PADs at their local branch.Our challenge has become with the PADs, we don't see any information about the source account owner - our statements just show TransferXYZ to Account ABC or similar vague transaction information.We have about ten units that all pay the same amount and thankfully only a few are on PADs but if we have one that is late - we never know who it may be until we do the dial-around.Is there another solution out there we should be directing these tenants to be using?

If he has no money to call an attorney, he could still call the title company and closing attorney who handled this transaction as a start.Also, a lender can’t demand more than he is owed and it’s a bit hard for me to believe that a $330k balance has built up to $500k, even with a year of missed payments.

I’m looking at a duplex that was illegally converted (proper permits weren’t pulled/zoning is still single family residential).

Is there a way to minimize capital gain taxes for this transaction?

Petersburg are technically illegal but they are still being operated successfully and a lot of the surrounding municipalities also have regulations against STR’s.

In addition, as you mentioned, selling will incur 10-15% in transaction costs and you will have to pay capital gains on top of that. 

This type of transaction mostly involves real estate investments and is very similar to short-term bridge loans.

They agreed to basically provide all the appropriate paperwork for the entire transaction!