I could go on but ultimately it very nearly cost me one of my oldest friendships.

And again, you must follow the interest tracing rules to prove that the cash went from one property to the other. 1031 does not change any of the above, as long as the funds from selling your current investment are escrowed and moved into your next investment.

The second one needed a full roof.

Did you find one?

I have experience in MF acquisitions and I'm looking to add value to a team that has already closed at least One 40+ unit deal.

I have insurance either way, but he said it's still best to split them up, with each having their own LLC.My plan is to create a new LLC for each one:-123 MAIN ST, LLC-123 GREEN ST, LLC...and then use my original LLC as the "Holdings Company", which then owns those 2 LLC's, and any additional properties I acquire.As of now, I have 1 business credit card and 1 business account for *JOHN SMITH PROPERTY INVESTMENT, LLC* -- this makes things easy from a bookkeeping standpoint.

I will only live in one of the units 4 out of the 12 months of the year because the other 8 months I will be with the Angels organization, during that period they provide a place for me to live and also food, so during those 8 months I would have more money I could save up and use in my house hack.

I am not sure I fully appreciated the scale of risk as I was not aware there are daily fines associated with class B violations.Following closing, I reached out to an expeditor I was recommended and the guy basically took my initial money and did nothing and then stopped responding to calls/ emails - finding nobody will work in NYC without money up front is hard.

They will offer 20% of your revenues in a HELOC), 4) Some banks are more "business friendly" than others, so call as many as you can to find the right ones.

Rates are only one piece of ANY loan, but especially with DSCR loans.