Lower credit requirements (ex.

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

We decided we'd like to transfer ownership to our children so we can help them avoid the new Proposition 19 law that requires property tax reassessment upon inheritance.

Working with investors will require you to learn specific skills that help your clients get to closing.You’re in the right place for connecting with investors.I wish you all the best.

Under the provisions ofProposition 19, as long as all other requirements have been met, the new taxable value of thereplacement primary residence would be calculated as follows:Since both units of the duplex are identical, then the full cash value of the unit that is theoriginal primary residence is $400,000 ($800,000/2).

Here’s mine but I feel like it can be better• Use Zillow and Redfin apps to look up similar rentals in the same area, note the obvious differences compared to my property such as unfinished backyard, proximity to main roads, pools, whether or not it requires a cosmetic rehab, SQFT, etc.• Use Redfin’s property value estimator to determine the value of these properties, and calculate the ROI of these properties (hypothetically, assuming the house was paid cash) only including home value and rental price they are listed for (not taxes and insurance) to determine general ROI of properties in the area.• Select the properties most similar to mine, and use the minimum rent of these as my minimum expected rent potential.

Typically it requires that the parent have lived in the property as his primary residence, and it also becomes your primary residence. 

For selling costs, do you have both agent fees and whatever Florida requires for a transfer tax (here in PA they require 1% from the buyer and seller)? 

My apologies for the confusion.I was able to find a quitclaim deed with the  propertie's legal description in my closing documents.As far as I can tell, I am discovering the legal descriptions and tax parcel numbers from both title companies match.However, the  tax assessor's office lists the opposite half of the address than my mortgage company has on file.My insurance company requires both sides of the duplex address to be listed on policy.I have still been unable to get in contact with the closing company from my refinance. 

So if HOA has lawn maintenance requirements, it should be in lease that tenant is responsible, because even if you pay for the re-seed, who is going to water it?