All Forum Posts by: Cameron Kirby

My only concern with putting it in her name is when/if my father in law declares bankruptcy. If they are still married, they are not getting divorced so I am worried about creditors coming after her. He is also not in the best of health(don't think he will make it more than a year or two) so I am worried about creditors coming after her. I am hoping that if she has no assets they will be more likely to leave her alone about the money he owes. 

Need some advice. So currently my in-laws are getting ready to sell their house and go their separate ways, while staying legally married. He will most likely need to file bankruptcy here in the near future (credit cards) while she is on Social Security Disability so her ability to support herself is very limited. My question is if me and my wife buy a small house, or trailer under our names and allow her to "rent" it from us for much below market, what are the legal/tax implications of this. From my understanding we could not claim it as a rental property for taxes and it would be designated as "personal use" by the IRS. Is there any thing else I need to be aware of from a legal side of things? Any advice would be greatly appreciated. Thank you. 

I found a duplex I am interested in looking at to house hack, and currently there is tenants living in both units. The owner doesn't want to let them know the building is for sale so doesn't want to let me see the inside until it is under contract. Is this normal? Seems like they are trying to hide something? any advice would be great, thanks.