Law: Illinois has a law that requires (I believe) the insurance company to give a 'General and Special Taxes & Demolition Expenses' Form (Important info for this issue) to the city when claims/damages are over a certain dollar value.

These include fix & flip and DSCR rental program that don't require tax returns of W-2 jobs, but rather uses your credit and property income to qualify.

Having a mortgage on that home might change some of the answers so just be prepared with how much the property is being rented for, what the taxes and insurance amounts are when you reach out. 

If your plan is to repay the loan with cash flow from this rental - but it makes $200 a month and you owe $22k in 12 months - you need to have a plan to get that addressed.

Low property tax/lower costs to maintain, etc.3).

I'm focused on the STR strategy as I would like to benefit from the tax advantages that it offers but understand it may not work out.

self-manage or local company - depending on your personal situation - amount of time you have/strengths in self-management, financial situation, tax implicationsSkip the big management co's - like any big biz they have one priority in mind

Some facts of the house:Location: Nassau County, NY, Town of HempsteadYear built:1929Purchase price: 290,000 in 2013Condition: AverageLot size sqft: 5000Livable sqft: 760I'm seeing several houses in my zip code that have been demolished and rebuilt into new houses with the maximum allowable livable square footage selling between $1.0M- 1.2M.Which is a better option taking into consideration, profit and capital gain tax (assuming my household income of 80K)1) Should I sell this house as is at $450K2) Demolish this house and rebuild it without taking out a loan.

Hi, So I will keep this brief. Long story short I have a tenant that has not paid rent in the new year. Rent is due on the first of every month. We have a court date scheduled for next week and the tenants are trying ...

This would explain the existing terms, verify current amounts owed, correct any lingering errors, etc.,  and define the new loan terms.