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Landlording on AutoPilot, 2nd Edition by Mike Butler

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CHAPTER 19Laws, Laws, and More Laws—Oh My!

You MUST understand each column in the figure below. Do NOT mix them up!

Take a close look at the image. It's a simple and powerful tool to help you wrap your head around the big picture.

Picture illustration of an advertisement showing federal, state and local laws regarding the housing business.

Now, before digging in here, please remember one of the big three fatal mistakes of investors is getting “Bad Advice.” The guy on the far right is my old police detective partner, Eddie Stewart.

Be very careful when hiring tax advisors, accountants, CPAs, and attorneys.

As shown here, you hopefully get see each level of government has its own set of laws, rules, regulations, and more. Your challenge is to remain in compliance in all three. Unfortunately for you and me, these different levels of government don't give a flyin' rat's ka-hoonah about the other two. More times than you might imagine, this leads to big-time, major conflicts between them.

Let me give you an example in my town involving evictions and set-outs with the sheriff.

  1. Our State Landlord-Tenant Law says the Landlord shall set out everything from the house and stack it curbside or at the street. The Landlord MUST wait 48 hours from the time of the set-out to allow the evicted tenant the opportunity to return and retrieve their personal property.
  2. Our Local Government, after the city and county merged into one local government, enacted an ordinance in an effort to hold property owners ...

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