All Forum Posts by: Anthony Hurlburt

I suspect most people will recommend selling as to not have the liability of a swimming pool if you turn it into a rental.

That can be a good thing.  Higher demand for people wanting to live in that area for the long term.  

You will need an investment or private money loan on this property unless one of the tenants magically decides to move out soon.

A four-plex's value is most commonly based on comps not on NOI. That is usually reserved for commercial properties, which are complexes with more than four units. I would recommend a four-plex and house hack as a starting strategy.

Welcome Amber.  The BP podcasts are a great source of information.

If you are renting out a place of four units or less and are living on the property then you are exempt from fair housing practices. So you are free to rent your bedrooms to whoever you see fit.

I have done this and @Shannon Slade is correct.  You get all of the same tax benefits of a purchased rental as you put your house into service.

Check your local laws as to how many days notice you are required to give them that you are ending their tenancy.  Then provide them a letter stating as of (date) they will be required to have moved out.

You can't have them sign a lease or give them any kind of notice until you actually close on the property.

You might get better relationships with you tenants with less condescension.  They may not be your fiscal equal but they still don't deserve your arrogance.