After doing the math, it looks like claiming section 168k now if only allowed against federal might be more favorable than reclassification.

Rather than confronting Steve, he chose to retreat and reached out to me for advice.

The upside of retail is that you get longer leases, typically, than MF and the cap rates are commonly far higher than MF deals.  

In fact I would suggest putting even less down on your properties in general.My question would be to make sure it didn’t take 50% down to cash flow.  

Hard money lenders are more interested in the after-repair value (ARV) of the property than your personal finances.- Have some skin in the game.

It looks like the appraisal was inflated for more than $40k on 2 properties that I bought to FLIP. 

If you push on the sheetrock/drywall and its solid, its surface stuff.... if its soft at all, then its more than surface and the drywall needs to come out and the real reason for the mold needs to be figured out.Based on pictures, its looks solid, but pictures can be deceiving.If its surface, its all about moisture and ventilation. 

@Varun Hegde the guys who answered you will know MUCh better than me but I am lost and wouldn't touch this (I am not a note buyer) If I understand you are essentially getting an assignment of the rights to collect the payments, like buyiing a note.

By managing furnished properties, we are able to provide a valuable service to an owner who wants to be hands off, while also helping them earn more rental income than they would renting out long term unfurnished.Happy to chat and share more.

Hey @Bradley Miller - while a tad late on the reply, I figured better later than nothing!