@Daniel Cullen - we just recorded a Straight Up Chicago Investor Podcast with an investor who did his first househack in Blue Island.

Ideally, this would be someone with a strong reputation and a proven track record in full-scale renovations, along with in-depth knowledge of the Pittsburgh market.If you have any recommendations or advice on contractors who fit this description, I’d love to hear from you!

When I look at the records it looks quite random.

if the second is recorded before the HOA lien then I dont think it gets wiped out.. but these are state specific.. title company should be able to tell you .. just open up an order and you will see what still survives the sale.

Assets identified in this study include:Bathroom Fixtures: Bathtubs, vanities, showers and toiletsStructural Components: Drywall, wood framing and interior partitionsBuilding systems: water heater, electrical distribution, HVAC, plumbingInterior Construction: Wood flooring, stairs, ceramic tileSmoke detectorsThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

I know there are some people out there who do this and put an assignment in place to be recorded if the loan defaults.As with so many things in REI, there are multiple ways to skin the cat, and it has a lot to do with your level of risk and your partial investor's level of risk.I do teach a 4 hour live class on this. 

Here are a couple of SEC 8 specific criteria...1) If their court records or pay stubs show any record of garnishments, be careful because SEC 8 ignore garnishments and the applicant will have trouble paying their portion, just like any other tenant would.2) If you see an outstanding landlord judgment, call the caseworker to ask when the tenant first was accepted into the program.  

To protect yourself, consider covering the electric for now, keeping a record of any payments, and adding them to the total owed when you file for eviction.

No criminal or eviction record.

Should I keep a record of what I did and how many hours I spent on the activity every day (and also other)?