What is the best way to avoid legal issues when making decisions for this property and to not let him claim anything when selling the property?

About 50% of the deals they find are off-market, which is a huge advantage for international buyers trying to avoid bidding wars.Since you are looking for long-term hold, are you leaning more toward Section 8/subsidized housing or standard market-rate tenants?

Side note, here is a podcast episode I recently did with BP: Avoid Paying Taxes (Legally) with THIS Rental Tax Loophole Hi Sean, I have emailed you.

So you’re not doing anything wrong.Given your call volume (≈1/month), I’d avoid anything heavyweight or “full platform” based.

Avoid large national banks - they will make you regret trying to work with them if you do. 

It’s been a helpful way to stay conservative on paper while avoiding surprises in real life.

From a liability standpoint, it usually makes more sense to reorganize and isolate the commercial building into its own LLC, with its own insurance rather than dissolving everything or changing ownership just to avoid a partnership return. 

Hey Rosalie,I'm a real estate broker based in NYC and Long Island, and there's more than one way to go about this:1) Selling the property with the current tenants lets you avoid the headaches of NYC tenant laws and keeps the cash flow intact through closing.

That makes a lot of sense, Doug — especially the point about avoiding properties where comps are difficult to support.

This will avoid winter problems with frozen pipes.- ALso see if UTL companies have a Landlord Protectoin Program that will auto-transfer to your name instead of shutoff.