[No coverage for] Water below the surface of the ground including that which exerts pressure on or flows, seeps orleaks through sidewalks, driveways, foundations, walls, basement or other floors, or though doors,windows, or any other opening in such sidewalks, driveways, foundations, walls or floors;...Wear and tear; marring; deterioration; inherent vice; latent defect; mechanical breakdown; rust; mold;wet or dry rot; contamination; smog; smoke from agricultural smudging or industrial operations; settling,cracking, shrinking, bulging, or expansion of pavements, patios, foundations, walls, floors, roofs orceilings; birds, vermin, rodents, insects or domestic animals.

She wanted to demo basement wall, dig out 500 sf of crawl space and put egress where concrete patio it. 

For instance, if the farm has "hot assets" (e.g. unrealized receivables, substantially appreciated inventory, etc) your FIL would have to realize ordinary gain from the sale and can't defer that through installment.A Sec 754 election needs to be discussed as well if you're buying out your FIL's interest but your BIL is staying on.A good CPA is going to cost you, but will save you far more than his/her fee by doing things correctly and efficiently."

I'm not an expert on this, but I believe that property inside the 401K would still pay ordinary income taxes.Just some food for thought

This expression came about as a combination of the shift of profit from ordinary income to capital gain, the fact that the property is reported on two consecutive tax returns, and attorney interpretations of some old case rulings. 

Mine says the tenant is responsible for "ordinary" pest control or anything caused by their living conditions.

@Farzan SetayeshNothing out of the ordinary, but I use the combination of the following consistently:- google photo for agent photo/video sharing- docusign for executing docs- acrobat X for all other doc edits- whatsapp for texts and phone calls- online money wiring or ACH for large items- paypal or venmo for smaller items- zelle or ACH for collecting rent- yelp or taskrabbit for misc repairs- lawnlove for landscaping or snow removal - skype for group meetings- Dropbox for online record storage- google voice for call forwarding - email for all tenant communications - autodraft for all utility & mortgage payments- online payments for all taxes & insurance - google earth to survey neighborhoods for out of town purchases - amazon or HD for online parts ordering The automation & streamlining of low value tasks enable me to preserve time for higher value activities.

I suggest you look for any sign of distress or anything out of the ordinary.

Just to make things even more interesting, it was completely gutted down to the studs and came with a squatter that had to be forcefully removed by the police (via shattering a glass patio door).

Just to make things even more interesting, it was completely gutted down to the studs and came with a squatter that had to be forcefully removed by the police (via shattering a glass patio door).