I think that theme applies here.

My daughter and son-in-law were given a house as a wedding present, (nice I know) when can they sell it, and not pay capital gains.

A lot of common themes here

@Nicole Williamson @Amir Stoudamire @David Kosiorek - there is a BW Meetup this Weds as Ned mentioned.

I'm at a time in my life when I'm saving for all kinds of things (wedding, new car, investing) and feel much more comfortable with what is a reasonably steady income (I know no job is guaranteed) I am not a huge fan of leverage, or debt of any kind, which is why I'm putting away money like crazy.

This $64k fixer upper required windows all around (it would become a theme for me), new roof, new AC, and refinished hardwood floors.

I also have a meetup group each month in Oakland (meetup next Wed), if anyone wants to join that too:http://www.meetup.com/SF-Bay-Area-Real-Estate-Netw...Looking forward to seeing your first meetup Jameson!

I don't know the area so take the following numbers with a grain of salt...9 one bedroom units rented at $575 (let's be conservative)2 store fronts leased at $600Total Gross Revenue - $76,500 - 15% (sticking with the conservative theme) Vac LossTotal Revenue - $65,025.00Total Expenses (50%) - $32,512.50Total NOI - $32,512.50Potential Vale of Property if sold at 9% Cap Rate - $361,250Like I said, I haven't seen the property but that's how I play it out in my head.

Upon entering the dilapidated shell-of-a-home that needs to be gutted and cleared of debris, I find 30 year old insulation covering the floor of each room, warped floors, no ceiling, a leaking roof, a destroyed kitchen and an owner attempting shop his home for the highest bidder to hopefully get ARV for his hunk of junk.What I'm finding is a common theme since full blocks are being bought out and the natives being forced out to make way for hipsters, swanky little coffee shops, and inflated real estate prices.

I'll be tying the knot with my fiancé at the end of September and we plan to utilize our leftover wedding funds to invest in real estate.So no deals for me in the near future...