If you have enough funds in an IRA the alternative would be to establish a self-directed IRA, and have the IRA buy the property subject to existing financing (if your sister is willing to do that), you personally can't assume the mortgage b/c you are not allowed to provide a personal guarantee for IRA-owned property and have the IRA pay your sister for the equity.

Depending how much you earn you can step up those savings by getting a side-hustle.

Hi Geoffrey, there is a tiny chance they will agree to postpone but you need to contact the lender immediately (bank in this case) and provide the evidence that you are a serious buyer (this can include a signed purchase agreement and proof of funds).

They provide great insight every episode

Thank you for taking the time to provide this insight.

The tax treatment of replacing HVAC systems depends on various factors, including the type of property (residential or commercial), the cost of the systems, and whether they qualify for immediate expensing or need to be depreciated over time.For residential properties, the cost of replacing HVAC systems is typically considered a capital improvement rather than a repair.

Here is some information that might be helpful.Rent Collection/Property Management:For collecting rent from multiple tenants and managing your property, here are a few popular options:Cozy.co: This platform is free for landlords and provides rent collection, expense tracking, and even maintenance request functionalities.Buildium: This is more comprehensive and suitable if you ever decide to scale up and manage multiple properties.

Hi Alana, great question.This largely depends on your long term goals and liquidity profile.

The LLC hires a Nevada management company to collect rents and provide maintenance.

Hi Kyle - send me a direct message with what exactly you are looking from in a partner and what you can provide.