"Did you get funding to conduct Gain of Function research" He denied that completely, and later it was proven to be true.

Let's say you conduct 50k in rehab, get the property reappraised, do a refi and now pull money out of the property.

You will also need funds to conduct the actual closing...

And the few landlords will also take notice and you will be able to potentially wholesale some deals to them possibly without even having to do the fixup first.In those samller towns you are actually creating your demand by the way you conduct yourself.

Without it ..all you can do is stare ,like a window shopper, at the good things of life , shrug your shoulders and move on .

If you have low income, and you have a mortgage on the property, you can apply for money from a relief fund.Even if the son and the girlfriend accept the cash for keys and move (and make sure you get them to sign saying that they relinquish all claims to the unit - they are your legal tenants, having established tenancy by living there), you're in a gray zone with the mother, since she is unable to conduct her own affairs. 

There are a lot of things that come into play -- you will need to focus on: listing your property, establishing a thorough tenant screening process, signing a lease with your tenant (and make sure that your lease is in accordance with local laws/regulations), conduct a move-in walkthrough (and document any damages/condition of the property prior to move-in time), collecting rent from your tenant, and managing maintenance requests.

Thanks Henry, I'd go a bit further and insist that you use the LLC name on ALL documents that are conducted in the business.This is great advice to start for a single member LLC, but a bit more to unpack when you add equity partners.

While the government considers the useful life of a multifamily apartment building to be 27.5 years, it considers the useful lives of certain items on the property, like cabinetry, appliances, and fixtures, to be much shorter – as little as 7 years or lessA professional cost-segregation study will separate these items out from value of the building, meaning you may realize even greater tax savings from the depreciation deduction.In the earlier example, if you conduct a cost-segregation study, you may find that $1,000,000 of the value of your $4,750,000 building comes from cabinetry, appliances, fixtures, etc.In that case, your depreciation deduction would be even greater for the first 7 years – $136,363 from the building depreciation ($3,750,000/27.5) and $142,857 ($1,000,000/7) from personal property depreciation, for a total of $279,220 in depreciation expense annually.You’d almost certainly have tax “losses” during those first five years that you could offset against other investment income.Cost-segregation sounds great, doesn’t it?

Out here in AZ you get 30 days to conduct inspections, etc.