I find it hard to believe the IRS is interested in splitting this “hair” in a punitive way, as a new business entity starting out.

Heard about pine quite a while ago... sometimes it takes me a while to pull the trigger but finally am on this one.

The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd house hack, you can use conventional and the rules that I mentioned above will not be a concern.

I would recommend buying new properties in single purpose LLCs - if you transfer them now you would trigger a transfer tax event unless you put them into a land trust. 

I know if you’re in the city of Walnut Creek it’s a bit more stringent than unincorporated, but we haven’t pulled the trigger.

In hindsight, not continuing to purchase turned out to be very narrow minded.This year, after listening to some podcast episodes, and a presentation at a real estate meet up, I decided I had to reengage, and eventually pulled the trigger on the following deal.Property Details:Location: 13537 Cedar Rd., University Heights, Ohio (Cleveland Metro)Neighborhood Rating: A-Purchase Price: $153KRepairs: $65K (completion expected by May 1)Expected Total Investment: Approx. $225KProperty Features:First floor: 2 bed/1 bath, potential rent $1,200Second & third floor: 4 bed/2 bath, potential rent $1,500Separate utilities and heating/central AC systemsInitially, I projected over an 8% cash-on-cash return.

I have the funds to pull the trigger but it would be with the money I was already saving.

But TX law is different than what I am accustomed to, so it seems that filing that quitclaim would trigger the due on sale clause of our loan, which I do NOT want.  

Also where do you think a lot of that hair may go?

What triggered the change order?