Closing on a rental property on Thursday and the settlement statement shows that rents and security deposits are a debit to the seller and a credit to me.

But if she holds on to the properties until death the heirs will still inherit at a stepped up basis - in other words any deferred tax goes away with her death.I'll reach out via pm and colleague request to give you more information

If I had to come up with the down payment, closing costs, etc. it would be tight, and I worry that I wouldn't have enough working capital.Thank you for your help!

But we should have it up in the next 30 days.

Looking at redfin history the prices have been going up rapidly 10-15%+ a year as well as rents up 50% from a few years ago.

It needs to be spruced up; great location downtown though.

@Glenn Cross NEVER pick up rents!

Also if I do end up hiring another agent, what should I be looking for in a good agent.

•Entities created or registered on or after January 1, 2024: Must submit their BOI within 30 days of their creation or registration.Penalties for Non-Compliance:Failure to file the BOI as required can result in significant penalties, including:•Civil penalties: Fines of up to $500 per day for each day the violation continues.

Won't that make his payment actually go up by reducing the value of the home which is now on 1/2 the land it used to be?