I have to spend an additional $1 million right away or over the course of 10 years.

Have them determine the useful life of the big ticket items like roof, furnace, ac, electrical and plumbing and use that to determine what you need in reserves and consequently what you can afford to offer on the house.You'll also want to look at the cash flow in case of additional vacancies keeping in mind what the vacancy rate is in your area.

In addition, he said, if I didn't want access to the room, which I don't know why I would, I could have a mason fill the doorway in.

You may potentially be required to file additional state returns if the properties are out of state.It also depends on the structure of the property management company that you have.

One minute she is the nicest person imaginable the next minute she is evil.I heard there is something called non forceablility of verbal agreements and I have also done some additional digging and am reading the followingverbal agreements are not acceptable or legal in real estate transactions.

All that I ask is that you remember me in the future, should you decide to sell or purchase additional property in the area.My contact information can be found in my profile.

Our professions are not related to real state or construction, and I never had to constitute any kind of company in the USA (did back in Spain, but laws have nothing similar).After much reading, the only two things I'm starting to get clear are: that buying and selling within a year has very different tax implications than living in your home for a few years then selling it, and that I should find at least a good CPA and possibly a good lawyer specialized in real state to figure out how to structure this to minimize taxes and liabilities.At the end of the day, my goal remains the same that I want to end up with a couple of investment properties, don't necessarily need to base my retirement on that, but just to not have all my eggs in the same basket.

They have accumulated a larger down payment through additional option payments or credits over the lease option term.4.

Additionally, moving a personal mortgage loan to the LLC would trigger a clause that would require me to pay off the loan.

How can I create a tax structure that minimizes tax burden as a SEI?