I have two rental properties in which I need to get rid off. I am in the 15% bracket to pay.
205831
The only way is to EXCHANGE them for other income property, called a SECTION 1031 TAX-DEFERRED EXCHANGE.  There are rules and time limits, and you cannot take out any cash without paying taxes on it.  If you cash out and just sell the properties, there is nothing to help offset or eliminate the capital gains tax at both the federal and state levels (if your state has income tax).  For more information, you can go look at the Federation of Exchange Accommodators website www.1031.org.
60734
Go to the RRA... Renters Rights Association. They will handle it! They eat that kinda crap up... I know cuz I have been an apartment manager b4 and the owners where total asses... there was so many things i couldnt do after the tentants were promised things by the owners then went back on em... good luck
592234
WOW,\n What an opportunity. You have the answer right there. You have 330 units already rented with people who would love to save on their space. Make flyers, self or have kinkos or someone else do it. Say something like, Bring me a person who signs a contract for a place and receive a week or month free. depends how you normally charge. If  you charge 100 a month x1200 a year , and let's say 100 units take you up on this offer you loose $10,000 in free months or week  of rent. The up- side, the lost is only once(one month of free rent.). and of course you now have 100 more units rented. 100 times $100 a month = you guessed it $10,000. You really lost nothing and gained 100 more units rented. Suppose only 50 units remained after the month 50 x $100 a month =$5,000, additional  money than your current situation and very little expense from you. I would sweeten the deal and offer those that are referred a free week or free month,but of course only if the sign a longer lease. Your  customers are always looking for ways to save, they are motivated. Business cards, cheap and cheap to print on the back , 10% discount off of 1st month rent etc, with this card. Give them out to everybody,everybody. Leave them when you pay for dinner or at the cashier at the gas station, post them in apt buildings laundry mats, etc
362274
Talk to the apartment management and ask what them what it  would take to break your lease.  I have had friends that have done this and they usually charge half of the remaining rent.  It all depends on how in demand apartments are in the area and if they are going to rent it quickly.  \n\nFind out if there is a waiting list to get into the apartments.  They may willing to let you get out of it for less.  \n\nIf you just leave and not pay, the avoiding of the sitiuation will cause eviction notices and more than likely court cases so they can legally attempt to get the money owed them.  And it will effect your credit rating and your ability to rent in the future.  How many people will want to rent to you if you did not pay your rent?  \n\nYou may have to pass on the great deal for now.  Can you pay the two rents?  Is it really worth the legal hassle?
282456
It won't mean much for me, except maybe lower property taxes.  As long as you're not planning on selling, it's kind of like a drop in the stock market.  The price doesn't matter until you sell.\n\nTami T - I would be concerned about a 15% drop, unless you had a big down payment.  You could end up upside-down on your mortgage and if you HAD to sell (lay-off, relocation), you would end up still owing the bank for a house you don't own anymore.  And I'm sure they'll want that at closing.
592706
thank about renting your house out........call a leasing company to manage the property.
541801
They will not just write it off their books, they will open your storage unit, and sell your goods at auction.  That sale must be public, but finding information about when the sale will occur could be difficult.  It will be advertised in a newspaper.  Ask the storage company how they usually advertise their auctions.  You will be entitled to any surplus over $9000.\n\nContact the storage company, and try to negotiate a settlement price.  Be persistent.  Deal directly with the building manager, or facility owner.\n\nOr go to the sale, bid on the unit, and try to buy your property back. \n\nYou may have legal recourse against the closed companies who were obligated to pay the fees in the first place.  Contact an attorney.  Time may be running out (or may have already passed) as far as filing a claim.  \n\nAnother thing you might try is to contact your local "News Power" newspaper or TV journalist.  They will probably look into your situation and make a few calls for you because your situation seems quite unfair.  The publicity of this unfair situation that the News Power people can bring is on your side.\n\nGood luck.
601572
A copy of the lease contract between lessor (you) and lessee (tenant) is what the lender is going to want to see in order to qualify you for the loan. Multiply the monthly rent x .75 and subtract the mortgage payment on the property. They will also want to see a utility bill in the tenants name to verify it is really rented out and you aren't trying to buy another rental property. \n\nTake all other expenses and add the differnce from above. Divide your total (gross) income and if you get above .45 you may have problems getting approved for a full doc loan.\n\nFYI... there is no way of verifying that the amount you PUT on the lease contract is truly the amount of rent that is being collected. Even in cases where you are using tax returns to document income, you could have upped the rent since the previous years taxes where filed. In no way am I telling you to create fraudulant documents, that would just be wrong...
137259
I would suggest getting an up to date valuation from the company which initially valued the property at 50 to 60 k more. If the valuations are miles apart suggest that you would like to take the valuations to arbitration or contact the valuers institute and ask them for advice.
632006
Let the potential landlord know your situation.  Also, they tend to look at the score only, not the actual report.\n\nWorse comes to worse, offer additional security deposit.
608022
Before removing your self from mortgage, why did you leave the property?\nGo to a lawyer and take his advise pronto.
660144
you can offer anything you like.   And no you cant use your VA loan to purchase rental property. Its for your primary residence only.  Just keep that in mind Big dog.  Now  as for the offer. If I asked for 477K and you offered me  417,  I would assume you arent serious.   And move on to my next offer.   But thats just me :D
445788
Dazed and Con has some very valid points. I would like to elaborate on them. Personally, I don't believe in the "rent to own" - it is a load of crap that doesn't give you any tax benefits. If you are able, take out a 5-year interest-only fixed loan. By that time, you will be out of school and can refinance the property. You should have built up enough equity by that time to not have to worry about a negative amortization. You can pay down the principal during this 5 year time if you wish. When you re-fi after you are out of school and working, you can roll some of the student loans intot he re-fi if you fix the house up enough to get a good high appraisal. This way, all of the interest including your student loan money would be tax deductible. This brings me to the last issue. Are you prepared to pay back student loans plus Uncle Sam after you graduate? If not, then having a house that is yours, not some "rent-to-own" nonsense, will give you the type of write-offs you will need to cut down or eliminate those tax checks. If the landlord is not willing to sell the house to you under a true normal sale scenario, then he/she is not serious. You never said whether or not you have a down payment. If not, then the rent-to-own may possibly work if you have an iron-clad conract with regard to your down payment coming from your rental payments of 4 years, an end date to the time when the property will be put into your name, etc. Take any rent&#92;-to-own contract you end up with to the local court house and record it against the property to stop anyone from selling it out from underneath you. Sorry to be so cynical, but I have seen many a rotten landlord on these. Buy it outright if you can.
459207
You may minus mortgage interest and any other expense (except for cost for major improvement) form your total rental income and report it as either gain/loss. Unless you have a tax program it is rather time consuming to calculate. Also to take advantage of tax deduction, you may depreciate your house, which takes another form. I have my HR block tax professional do the form and it saves time and definitely worth it. The loss from my rental house offset my adjusted gross income by thousands of dollars every year.
261126
You are legally bound to that contract.  Talk with your landlord.  They may keep your deposit as well as re-rent fees, etc and rent until they are able to rent it again.  Check your lease on penalties.  If they wanted to be a jerk, they could hold to to the full term of the lease.  Offer to help find a new tenant, pay to advertise it.  Work with them to get it re-rented and they will probably let you out of the contract.\nGood Luck.
148904
you should have looked at it first - probably not much you can doo. pet fees are legal. get a real estate/rental lawyer.
454868
I know I am not answering your question, but I do not know a place to send you for the information you are looking for.  I am a Landlord of 23 properties in Florida and I can answer specific questions you may have, to a limit.  Insurance you need to have homeowners Insurance and tell your agent that the house will be a rental, that way you are not paying for all items in the house, unless of course you are renting a furnished unit.  I have no special account, all the monies go into my personal account and all repairs come out of my personal account.  You will pay tax on the profit you make, I am not an accountant so I don't know what your tax implications would be, an accountant can answer that for you.  If you have any other questions please feel free to add details post another question or you can email me through Yahoo Answers.  Good Luck KG