Individuals overwhelmed by debt may need to liquidate their property to pay off creditors.Divorcing CouplesDivorce often necessitates the sale of shared property to divide assets quickly.

.= approx. 700My monthly cost for living in one unit= approx $1800 (which is what I pay to rent right now).

@Orien Kuang - I think it's smart to try self property management on your midterm before paying 8-12% to have someone else do it.

And now that the furniture is not an expense (since I’ve already purchased it) I literally just need to plop it somewhere vs pay for storage!

So, does a 3rd party purchase the property and the buyer pays the 3rd party?

We bought at the peak of the market in 22, and can’t stomach the loss in equity + paying an agent to sell.

A refinance that only pays off the existing balance (plus any costs) is considered a rate and term refinance and should offer lower mortgage rates and costs due to simplicity.

So many people focus on interest rates of current vs interest rate they will pay on the next.

More importantly... by paying yourself from your rental income, you are converting passive income into earned income, subject to Social Security and Medicare taxes.

My question is do I pay taxes on that 355k boot although it was in the form of a mortgage?