All Forum Posts by: Ellen L.

Thank you all! You’ve given me encouragement to tackle this the right way. The unusual situation was completely bewildering. 

Here's my biggest landlord challenge yet--

This duplex is in Ohio. I closed on Nov 4, 2024. Signed new tenants, and am tackling upgrades now (March 2025). I'm out of state and have never been there.

Pulling up a corner of the old carpet revealed original hardwood underneath. My tenant wanted to do this work herself. In one place, she discovered a big dark stain. She phones me to tell me a crime was committed. EDIT: The stain was from a pet. No police record. We're working out the terms of the move out.

@Matt Devincenzo Interesting! Thank you for the tips and I'll reach out to Dave.

@Matt Devincenzo you are 100% right to ask because this is a gray area. My llc owns the house and I hoped to rent it, but market conditions are not favorable and I’m changing course to selling. 

@Elizabeth Goff I'm in exactly the same position as you were 7 years ago! What did you end up doing? 

I have a considerable gain from my CA flip, if it sells/ My choices are 1) Just pay the cap gains tax and get to freely do what I want with the liquid funds. 2) 1031 Out of state and file the FTB 3840 forever.

I'm just getting started and made sacrifices to get this deal going. I worked really hard and had planned on a 1031. I didn't learn about the clawback till I started speaking with 1031 intermediaries.

I am still looking! I’ll pm you. 

Name: Ellen
Gender: female/39
Accommodation Preferences: Ocean view if possible, flexible
About Me: Hi! I'm an easygoing roommate and looking to cut costs and also have a more fun experience sharing space with a woman who invests.  I'm from South Lake Tahoe and recently quit my day job to invest full time. 
Contact Preference: Dm