Link: https://www.skool.com/taxes/classroom/ec6893ee?md=f24cc96e34c94f8982d3243d4808f685 Here are the key takeaways from this call: Tenant Screening - Recommended platforms: SmartMove (by TransUnion) and Turbo Tenant for long-term rentals; Zillow's embedded background check is good because tenants can reuse one paid check across multiple properties - Always screen tenants before placing them — skipping it leads to problems with payment, property condition, and difficult removals Long-Term Rental Challenges - One participant's tenant (placed without screening) was paying late, maintaining the property poorly, and becoming a headache; the advice was to have a direct in-person conversation, reset expectations, and give a deadline before pursuing formal notice - Kansas law requires 30 days notice to vacate; always check your state's statute - A separate story highlighted a squatter situation where a tenant stopped paying rent for over a year — the takeaway was to set up automatic rent deposits and act quickly (visit property, hire a local eviction attorney) if payments stop 1031 Exchange Discussion - Proper 1031: sell a property, roll all proceeds into a replacement property within 45 days (identify 3 options) and close within 180 days — defers all capital gains and resets depreciation - Lazy 1031: sell, keep the cash, buy a new property later in the same year and use cost segregation to offset the gain — less efficient because it "uses up" your depreciation against the sale rather than offsetting other income - Consensus: the proper 1031 is almost always better Mortgage & Payoff Strategy - Loans at ~4.25% are worth keeping — the money can likely earn more elsewhere (S&P 500 averages 8–10%, private notes at 8–10%, HYSAs near 4%) - Loans at 6.7–7%+ are worth paying off or refinancing Property Improvements (for better tenants & higher rents)