Don't know exactly where you are in relation to where I'll be but if we could meet up for lunch, maybe that could work as well.

We're in good relations and we have agreed to be business partners if it is worth holding.

Adding to what Joe said, it will also increase their water usage relative to the other units. 

Can I consider the closing coats a business-related expense and deduct them from my taxes? 

Weather related deaths same thing, infancy/child death, war deaths?

-Investors account for about 23% of the city's single family home purchases-Many are focusing on San Antonio and other Texas cities because of the state’s relatively low home prices and fast-growing population-This is causing prices to go up for both investors and primary home buyers as the city's inventory levels are the tightest they have ever been-The investors buying single-family homes are responsible for a large part of the steep rise in home prices across the U.S.

-Investors account for about 23% of the city's single family home purchases-Many are focusing on San Antonio and other Texas cities because of the state’s relatively low home prices and fast-growing population-This is causing prices to go up for both investors and primary home buyers as the city's inventory levels are the tightest they have ever been-The investors buying single-family homes are responsible for a large part of the steep rise in home prices across the U.S.

-Investors account for about 23% of the city's single family home purchases-Many are focusing on San Antonio and other Texas cities because of the state’s relatively low home prices and fast-growing population-This is causing prices to go up for both investors and primary home buyers as the city's inventory levels are the tightest they have ever been-The investors buying single-family homes are responsible for a large part of the steep rise in home prices across the U.S.

Couple tax related questions:1) A 1031 exchange would never come into play in this scenario since there's no actual 'sale' taking place. 2) If we did an actual sale instead of a transfer, could he use a 1031 exchange to pay off his RV and pay no capital gains on the difference between the sale price and the $88k he bought it for 30 years ago?

Using BP book, Raising Private Capital, Matt Faircloth page 34, The One Page Business Plan, by Jim Horan.I look forward to using this invaluable tool, to buy-hold distressed single and multi-family properties.BP highly recommends refining business posts on Facebook, Linkedin, website, etc.Would you please suggest favorite groups that relate to investing in real estate.Cheers,Jeffrey Baxter