I finally got to talk to the guy next door. Well, not the owner. This guy literally did all of the work fixing the place up. He is a real estate agent. He insists that he has no monetary interest in the place and is really sketchy about how he gets paid. I really don't trust him.
I gave him an earful and we ended up talking through a lot of stuff for about an hour. I'm not sure he's very sympathetic but he did give me the owner's number and told me that the owner would be here next week so I can talk to him in person.
He told me the owner bought this solely for being a place where his family could come for vacation and was not intending on turning it into a rental. However, in his next breath he told me he bought it as a 1031 exchange.
Quote:
A 1031 exchange is a tax break. You can sell a property held for business or investment purposes and swap it for a new one that you purchase for the same purpose, allowing you to defer capital gains tax on the sale.
So, I'm calling bullshit on this one.
He gave me grief for the security camera and the signs. I let him know that as long as we have problems here, things won't change.
I'm not sure this will go anywhere but downhill, really. But, we'll see.