I even flew out to Kansas City to meet with the owner and other contacts.

I'm going to preface this by saying I tend to think outside of the box unnecessarily.

I thought I wasn't legally able to sale to someone else unless the buyer has cancelled the contract in writing.

I would love to hear your thoughts on such a strategy, what to look out for?  

The way to handle it is to allocate expenses based on the percentage of the home’s square footage used for rental purposes.Here’s how it works:Calculate Rental Percentage: Add up the square footage of both the in-law suite and the rented room, then divide by the total square footage of the house.Apply This Percentage: Use this rental percentage to deduct a proportionate share of expenses like repairs, utilities, and mortgage interest.This post does not create a CPA-Client relationship.

Hello all, I am new to investing in Philly.

My main goal is to just purchase and flip my first property while using the contacts I have back home.

There are tons of disadvantages to real estate in an S corp.Also, one main caveat to an S Corp is requiring to pay yourself/shareholders on payroll.

I have a feeling that they are going to ask us to meet a reserve price, but I don’t know how much sense it will make to increase my offer.

Quote from @Aus Smith: Hey, To add to my fellow accountants, size does not matter.