I am basically the traditional Asian family that spent my entire life saving money and purchasing a place in New York City, and after trying to survive for a while I find it too hard now that it’s 2 people and decided to move back to my hometown and do some investing looking for cash flow in particular.

But if I were you I would just deduct the actual home price from the sale and comp.Let say FMV is 800k, with this roof lien I would take 25k out so FMV is 775k.It's not a big deal really.Another important thing is to understand from disclosure if local gov. is involved or not ; sometimes they want stuff to be fixed within 2 months after closing.

- What does your RE attorney and tax preparer need to know before you purchase a property in a SDIRA's LLC? 

First time poster here…I just found the bp site this week after diving into quite a few of the podcasts recently.I am brand new to this area and am in the learning and evaluating phase right now..

🏡I’m excited to share some news—After spending the last 10+ years in Self Storage and managing my own rental properties, I’ve taken the leap further into the world of real estate!

If the trust is what is called a "disregarded entity" (meaning it does not have it's own TIN and does not file a tax return) then the activity of that property is reported on your personal tax return. 

I'm a little concerned with the current high interest rates and property taxes (Texas).  

@Logan Kannes, if that LLC is also taxed as a sole proprietor then it is what is called a "disregarded entity". 

I mailed them a security deposit statement using certified mail after 7 days of their move out.

She signed a one yr lease at the sum of 1300 after that lease has expired the tenant became a Sec 8 tenant  (I believe during the year lease) then went month to month.