⏰This might be the most dangerous advice in estate planning.Here's what most practitioners miss: 📚While everyone focuses on the 10-year NFTL expiration, the IRS has a nuclear option hiding in plain sight.Under IRC §7401, the IRS can file suit in federal district court before the Collection Statute expires and convert your "temporary" tax problem into a renewable judgment lien lasting 20+ years.The timing game becomes Russian Roulette with a countdown timer.

My wife and I began to realize that real estate wasn’t just about owning property, it was about creating options and freedom.When we eventually sold the Portland home, a Keller Williams agent introduced us to the 1031 exchange.

When I purchased the house I did a full rehab and converted the unfinished basement into a two bedroom.

Since we want to be conservative with our underwriting, we found the county’s Property Tax Estimator tool: https://cuyahogacounty.gov/fiscal-officer/departments/budget...Our current thought process:-Look up the correct tax district and current value from county records-Enter the property’s purchase price as the new market value in the estimator-Use the 2026 estimated tax amount for deal analysis, since that’s likely closer to where taxes will eventually adjustFor those of you investing in Cleveland:-Does this approach make sense?

I eventually hired another manager, but that turned out to be a rushed decision. 

If owning rental properties is something you want to do in the future, it sounds like when you are ready to make the move from your rental, one of the attributes you should consider when you do buy the home you want to live in, is if it would make sense to convert to a rental when you are ready to move out or if a live-in flip makes sense.

Why did you convert it from a duplex to a single-family home?

My plan is to run some wholesale and fix/flips to begin and eventually open my own shop and hire some additional agents at that point, but that's still a few years out. 

I plan to eventually buy an old house on that part of King to be the office for my business. 

As rates eventually come down, those properties will cash flow even more and likely appreciate further.