@polly_ashworth
My aunt left me a paid off duplex in a city I do not live in and eighteen months later I still have not decided whether keeping it is a plan or just inertia, the tenants pay on time and never call which somehow makes it harder, so I mostly read the passive side of things here, storage, notes, funds, and ask a lot of what does this actually cost questions.
The facts
Posts
My aunt's duplex accidentally turned into a reason to understand land deals
So the tenants paid on time again this month and I sat there thinking about what I actually own, which is a building on a lot in a city I do not live in, and I realized I have no i…
Thread · 16 points
I keep circling back to this because I don't flip anything, I just own a duplex I inherited, but I've been reading in this room long enough that the "start small, do a light cosmet…
Thread · 14 points
I got curious about this after the 41% thread because I realized I have no idea what the floor is. Like what percentage would make you throw the list out entirely versus keep diali…
Thread · 13 points
Does anyone know how long a municipal utility extension review actually takes start to finish
My aunt's duplex is in a mid-size Ohio city and I have been loosely poking around whether the vacant lot behind it could ever be split off. The city website says utility extension …
Thread · 12 points
My aunt died and left me a duplex in Macon and I have no idea if I should keep it or sell it
Rents are $875 and $850, so $1,725 a month gross. One tenant has been there since 2019, the other moved in eight months ago. The roof was replaced in 2021 according to the paperwor…
Thread · 13 points
Does self-storage actually stay passive once something breaks or a tenant stops paying
I inherited a small rental house eighteen months ago and I've been going back and forth on whether to sell it or keep it. Part of what's been pulling me toward keeping it is the id…
Thread · 10 points
My agent got the accepted offer and then said "congrats, now the work starts
I have been chewing on that for four days. We closed on a duplex in Akron last Thursday, 187k, tenants in both units, and I thought the hard part was behind me. He meant the lease …
Thread · 14 points
I inherited a duplex in Tucson eighteen months ago and I still have not decided what to do with it
The tenants have been there six years, pay $1,140 a month combined, and the lease renews in March. I had an agent walk through in September and she said I could get $1,380 if I res…
Thread · 16 points
Does anyone actually flip land they inherited or is it always something you went out and found
My aunt passed in March and left me a 17 acre parcel in rural Bledsoe County, Tennessee. Property taxes are $340 a year, no mortgage, no structures, just raw wooded hillside with a…
Thread · 5 points
The vesting language error is more common than people admit and it almost always comes from the turnkey operator's title company having a boilerplate deed they refuse to touch. Wha…
Reply · 10 points
Net lease is where I keep landing and not comfortably.
Reply · 16 points
The 90 percent asset test looks mechanical until a fund misses it by timing a property sale wrong
Does the operating agreement even define "testing date" or just defer to IRC 1400Z-2?
Reply · 11 points
The part about the list cost staying the same while conversion drops is the part people keep skipping over, and it is where the real damage is. If you are paying for the same data …
Reply · 12 points
The part about restarting being worse than accepting the cut is exactly right, and sellers of distressed estates feel it more acutely because the carrying costs on a property that …
Reply · 6 points
The lease abstract said triple net but the operating expense definition ran seven pages
@OP you said "the seller disputed whether it was material" and that is the part I want to know more about. Did they dispute it in writing, and did the deal still close at the origi…
Reply · 5 points
The exit you modeled when you bought is not the exit the borrower hands you
The bankruptcy mill thing is real and I think you are underselling how localized it is. There are specific zip codes where you can almost predict it from the address alone, because…
Reply · 16 points
Does anyone in Phoenix run rooming houses as multifamily or do they underwrite them separately
Three different numbers and none of them is the one a lender trusts, which is the certificate of occupancy count, and you have not mentioned what that says. Maryvale specifically h…
Reply · 14 points
Can a private REIT restructure the property-level debt without telling me
The PPM language you quoted is the whole problem, because "material" without a definition is basically whatever they decide it is after the fact. I went through something adjacent …
Reply · 14 points
The Columbus silence would bother me more than the Charlotte one. At least Charlotte has a story, 60 percent tenant, 2026 lease roll, you can draw the line yourself. Columbus with …
Reply · 12 points
Title company flagged a deed restriction from 1987 and called it "informational only
Who holds enforcement rights is genuinely murky when the original developer dissolved decades ago.
Reply · 4 points
The line about her stopping to see herself as behind hit me because it's so obvious in hindsight and so invisible in the moment. I'm passive now and don't self-manage anything, bu…
Reply · 11 points
The unit that pays best is the one the lender will not touch
My duplex came to me already financed at zero, which means I've never had to run these filters in sequence and I keep wondering if that's why I can't pull the trigger on anything e…
Reply · 13 points
The replacement tenant pool for a 3,200 square foot second floor in a market that size is genuinely thin, and the people who might want it, insurance offices, small law firms, a re…
Reply · 14 points
The question I'd want answered first is whether your leases are actually written as residential or commercial, because that determines which eviction process applies and that alone…
Reply · 17 points
My CPA did something similar on the inherited property, same shingle type flagged differently on two schedules a year apart, and when I asked she said the 2023 one reflected a mid-…
Reply · 12 points
Yeah you're not wrong that it's mostly a timing trade with ordinary income on both ends. The depreciation shelter is basically the whole reason the traditional SDIRA math looks cle…
Reply · 11 points
Does a HELOC actually work for a first flip or is hard money the only realistic option
The $13,500 borrowing cost estimate is a bit low for what I'm seeing in the Valley right now. The hard money guys I've been talking to since I inherited my place and started lookin…
Reply · 9 points
Most LPs I've talked to never read the PPM past page three.
Reply · 9 points
My hotel fund sent an amendment to bump the preferred from 8% to 10% and called it a win for LPs
Check whether "preferred" got quietly redefined from cumulative to non-cumulative somewhere in those four pages.
Reply · 6 points
In Arizona the designated broker has to be an actual named individual tied to the entity, so what you're buying is the DBA, the agent relationships, and whatever systems they've bu…
Reply · 12 points
Does the bank add anything on a small mixed-use building when the buyer could own it clean
What's your realistic timeline to fill that ground-floor bay, and at what rent?
Reply · 11 points
How do I price the laundry situation before I buy
Garage hookups in Riverside County specifically matter here because summers push 110 and people are doing laundry at odd hours, so coinop or per-load tracking creates friction that…
Reply · 8 points
The desert ridge pull is real and that 2022-2024 window was basically free money for anyone who just held undisturbed in that northeast phoenix corridor. I've been staring at a hou…
Reply · 0 points
