For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

All tenant paid utilities must be transferred into Prospective Tenant’s name except for furnished units, and a lease must be executed and signed by all parties.How have others handled this? 

I am primarily looking for a Lead Manager and Acquisitions person, but may also look at an Executive Assistant hire.

Purchase price: $50,000 Cash invested: $25,850 Sale price: $112,846 BRRRR Deal Executed and now turning into a 1031 exchange!

Purchase price: $50,000 Cash invested: $25,850 Sale price: $112,846 BRRRR Deal Executed and now turning into a 1031 exchange!

It should be in your lease that you have right to show the property with proper notice, whatever that is legally in TN.

The best way to get over it is to gain confidence in the numbers, get confidence in the assumptions, and most importantly get proper expectations on what a buyable deal looks like. 

And as for the STR buyers, I put many into the same bucket as many other unsophisticated (or maybe the proper term is less conservative) investors.  

So, the LLC was likely properly notified even if the owner did not receive it.

While I do ask questions about leins, ownership etc, I want to be able to have a high level of confidence that the property can actually close before I spend any money on inspections or appraisal etc and ensure that the closing duration is long enough for all this to properly happen.