Quote from @Adam Macias: Let's just start a simple discussion so other members can see this for future reference.As a real estate agent, no matter how obvious the answer may be or not be...Why is an exclusive buyer's agency contract so important to you?

Prop 19 eliminated the old parent-child exclusion for rental properties.

If we simply sell outright the gains, I’d any, will be miserable and essentially toss away decades of work,how else do people off load these investment properties (didn’t care the the DDDD strategy.)Has anyone 1031’d into credit sited funds (think crowd street or other funding platforms that accept 1031’s?) 

In that case, a waiver of inspection for the purpose of accepting the offer does not necessarily preclude you from having an inspection done for your own knowledge.I'd definitely get that done before you close.  

If their score is already $hit, the LL has no leverageIt is better to accept lower rent to obtain a well qualified tenant than to obtain top of market rent to obtain a $hit tenant.I have had rentals many years in class c to B+ and I have never paid cash for keys or had a tenant fail to pay any significant amount of money.  

. - ie don’t buy a dog property to save taxes.While BP is excellent in many ways, I would caution you against accepting free advice from people you don’t know on BP when hundreds of thousands of dollars are involved.In my mind, better to spend $10,000 to get advice from someone who really knows this stuff.

But as a Realtor who works almost exclusively with investors, I'm not trying to spend an hour of my time preparing an official written contract with all disclosures to make a half-price offer on a property that just hit the market yesterday.

Current Setup (Owner-Occupied + Rooms Rented)The house is their primary residence → they keep the Section 121 exclusion if they sell (up to $250K each, $500K if married) as long as they’ve lived there 2 of the last 5 years.The rented bedrooms = rental portion → they can deduct:A share of mortgage interest & property taxesA share of utilities, insurance, repairsDepreciation on the rented portion of the homeThe share is usually based on square footage (e.g., if 2 of 5 bedrooms = 40%, then 40% of those expenses are rental deductions).2.

When running numbers, do you have a fixed percentage or dollar amount you require before moving forward on a flip? Curious where different investors draw the line.

Also, I plan to do it exclusively in my area(Metro Detroit).