STOP BEING A LANDLORD: MANAGEMENT RELIEF AND TAX-PATH CHECKLIST
721 UPREIT Pros | https://721upreitpros.com/articles/stop-being-landlord-tax-deferred-options

Use: prepare one evidence file before selecting a manager, sale, exchange, DST or partnership contribution. General education only.

1. TASKS I WANT TO STOP
[ ] Tenant calls and collections
[ ] Leasing and renewals
[ ] Vendor and maintenance coordination
[ ] Capital-project supervision
[ ] Bookkeeping and property reporting
[ ] After-hours responsibility
Other: ______________________________________________

2. RIGHTS I WANT TO KEEP
[ ] Property-selection decisions
[ ] Sale timing
[ ] Borrowing or refinancing approval
[ ] Major capital-spending approval
[ ] Ability to access principal by a stated date
Other: ______________________________________________

3. OWNERSHIP AND AUTHORITY
Record owner: ________________________________________
Federal tax owner: ___________________________________
Borrower / guarantor: _________________________________
Required co-owner, entity or lender approvals: ________

4. PROPERTY AND TAX RECORDS
[ ] Acquisition closing statement and prior exchange file
[ ] Capital-improvement ledger and invoices
[ ] Depreciation schedules and returns
[ ] Debt payoff, guarantees and lender conditions
[ ] Suspended-loss and state-history records for professional review
[ ] Current value evidence, clearly labeled estimate or verified

5. CASH NEEDS OUTSIDE THE TRANSACTION
Amount: ___________________ Date needed: ______________
Verified outside source: ______________________________
Fallback if unavailable: ______________________________

6. PATH EVIDENCE
Manager: scope, authority, fees, reserves, termination rights
Taxable sale: contract, costs, debt, basis and CPA calculation
1031: intermediary, identification, replacement real property, timing
DST: trust powers, offering documents, property, debt, fees, transfer and sale terms
Section 721: acceptance, contribution agreement, value, debt, unit class, partnership agreement

7. OPEN-ITEM LOG
Question | Evidence needed | Responsible professional | Due date
_______________________________________________________
_______________________________________________________
_______________________________________________________

Do not treat a label, illustration, rate or verbal statement as proof. Management relief, tax treatment, income and liquidity are separate questions.