I have about $80k in a HELOC on my current home where I live.

As a CPA who lives and breathes real estate taxation, I've noticed something interesting that I want to share with the BiggerPockets community.

I invest in about a 50 mile radius from where I live.

Working horrible job, living horrible, no golden streets of opportunity found.

Even if the sponsor lacking knowledge and experience can raise capital through syndication, their life will become a living nightmare of lawsuits, hostile social media posts, public ridicule, accusations, legal threats.  

Slow live in flip happening here. 

You could bring less down and possibly have a lower interest rate since you will be living there.

For the son to qualify for the $250k exclusion, I believe he would most likely need to meet the ownership and use test, meaning he needs to own and live in the home as his primary residence for at least two of the last five years before the sale.

I live here in Albuquerque and have been investing here for the past 15 years.

Especially if you built something to rent or live in.