Hi everyone,I have a unique situation wherein we placed 3 properties (all located in maryland, baltimore city) into an S corp and looking to transfer at least 2 of the properties out of the LLC into a multi-member LLC partnership.1)  are we subject to transfer taxes or fees for the transferring?

I actually just want the banks to get their $71k so that when I start probate on the bank accounts no one at all can claim any of the monies from the few bank accounts.

Thinking 1 set for the 2flat (2 units) and 2 sets for the 7unit.

Private Money What was the outcome?

I have two applications from the same household.

The difference between the sales price ($800k) and the adjusted cost basis ($725k minus $80k of accelerated depreciation) is $155k.

I have been studying for my real estate degree for the past 3 years and would love to get my feet wet.

Tell the tenant that you will be coming by with the HVAC person at set time and day (giving them more than 24 hours' notice) to look at the HVAC and figure out what the problem is. 

There is one central steam boiler for the whole building, and I was on the hook for the whole gas bill in the past.

In general, the IRS allows you to deduct certain expenses, including closing costs, in the year the property is placed in service as a rental.