There were at least 4 maybe 5 individuals on Dave’s team that handled numerous things like; getting any necessary info from me and the title company, providing my account statement (proof of funds) for the sellers of my replacement, working with ERG for the exchange documents I needed to sign for both closings, and getting the 45-day form filled out and sent back to ERG.

Also, make sure to file the necessary documents to protect your interest.FHA Buyer Strategy: If you think you’ll be reselling to an FHA buyer, go the subject-to route and hold the property for at least 90 days.

Those reasons are perfectly outline my personaAfter researches I’d realized that the best place to do real estate in a scale is in USA 🇺🇲My intention is to do the BRRRR method and to be expert in that and with other financial creative strategies Continuing to document my experiences, lessons, and insights, hoping that it helps others like me, I invite you to follow, share with me your insights, and come on let’s connect!

If you are working with an investor-friendly CPA, I would ask what you need to document to make it easy to write off the expenses.

These documents are harder to manipulate than a P&L or QuickBooks summary.

They should document the condition heavily before moving tenants in.

There were some challenges along the way with the lending process but I was able to provide all of the documentation required and close on time.

(We're aware of the five year look back period for Medicaid eligibilty but it's not a big factor in our decision to do this.)We would get the house appraised so we can document paying FMV.House would be purchased with cash (it's a small home in a rural area and value is low)Inlaws would sign a lease so that it becomes a legitimate rental and we can deduct expenses, etc.

Is it even possible to do or would they have to sign a whole new document?

Having a dedicated account for property-related income and expenses makes it easier to track and document everything for tax filings, deductions, and accounting.