Capital gains would be 0 because he has not hit the threshold for gains on a primary home sale.Dad’s remaindership share (portion that was my brothers) is 35% and carries a $0 cost basis.  

Someone decides (that carries significant consequences) whether an application is approved or not... 

The program looks at location, property value, amount owing, interest rate, taxes, insurance, rents, condition, etc and several exit strategies.When we make an offer to buy, we can offer cash, subject to, wrap, seller financing, lease option, seller carryback and so on.Obviously if we wholesale the property, there is no carrying management needed, and if use a lease option to sell, the optionee is responsible for maintenance and repairs.

For defendants, it is important to be aware that this type of dismissal carries some risks because it leaves them exposed to the possibility that another case will be filed.http://www.wisegeek.org/what-is-a-dismissal-withou...

License process can be lengthy so swallowing carrying costs could be heavy. 

What happens if a property does not sell and carrying costs exceed all costs? 

Particularly with all the 506(c) offerings marketing themselves, and having $25k minimums, as many do, it is a hard sell to see how a Fund of Funds, who will have their own fees and carry make any sense.  

I do not want to carry the property too long.Thanks again, Zeke your not ready!!

Quote from @Carrie Matuga: @Philip Jackson were you. able to find someone who could help?

Please be careful, at higher amounts leveraged, the carrying costs/time value of money can eat you alive if you have any hiccups in your project.