The unit is vacant; what's the charge of maintaining a vacant unit!!?

2) Which are the costs of setting up an LLC, maintaining it and filing taxes each year?

And, does the buyer legally control the property while the seller only maintains control of the mortgage?

Would a simple joint venture contract detailing how the property would be managed and finances handled suffice or should it be placed in an LLC that they maintain control of?

From what I've read, they bear responsibility to not only accurately and completely report this stuff up front, but to maintain records and go back and fix errors after the fact.

As the cost of living rises, property values and rental income typically follow suit, ensuring that your invested capital maintains its real-world value.4.

"All costs to maintain" Manager’s Right to Debit Trust Account: Owner hereby expressly authorizes Manager to deduct from Owner’s funds in said trust account(s) amounts needed to pay the following expenses (collectively referred to as “Expenses”): (1) management fees, commissions and other amounts owing to Manager; (2) Manager’s out-of-pocket expenses associated with managing the Property including, without limitation, copying costs, postage, mileage expenses at the IRS maximum rate, costs to conduct credit checks, costs associated with evicting tenants, etc.; (3) all costs to maintain, repair and improve the Property including emergency repairs tothe extent approved in writing by Owner or to the extent the same have been approved elsewhere herein; and (4) all amounts needed to pay bills for which Manager is responsible for paying under the lease of the Property.

Its difficult to maintain alignment among "partners" over a long period of time.

Hi everyone,I’m a professional real estate developerbased in Central Florida near Orlando.Background: licensed architect with deepexperience in residential subdivisions, underwriting, entitlements, buildingpermits, construction management, and maintaining extensive contacts withnational home builders.My specialization is converting raw land intopaper or finished home lots for sale to national and regional home builders.

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to, “Maintain to the Neighborhood”.Why is that important?