Not only that he gets stepped up basis and sell with no tax  double check that with accountant but I think that is correct.. then take the cash put it in 5% gov bonds for now then get up to speed and see what you really want to do. 

Overall, you are correct.

Hello colleagues,The fire Marshall recently conducted a review of an 8 unit, 3 storied old building in Palo Alto, CA  that I manage.He has specifically called out for several corrections.

@Tom Gimer - You are correct, and many loan docs provide that an additional encumbrance constitutes an event of default. 

I would start the process for this as an eviction with an eviction attorney, and make sure you follow the process correctly to get her out.

Knowledge of techniques and terminology is great - but if you don't take action, all is lost.

I guess my other understanding is that I have to provide it is water proof and it is correctly zone for fire.

Hey Everyone!Names Christian, I’ve, been doing real estate investing for bout a year now, worked on my first property which wasn’t the best ideal situation, but it was an amazing learning experienced that I wouldn’t t...

80% Cash Out No Seasoning3 Month Seasoning6 Month SeasoningShort Term & Long Term Rental OptionsVacant OptionsManufactured Home OptionsSome lenders will do 100% of your purchase price + rehab costsSome lenders will do 120% of your purchase price + rehab costsSome lenders will do 140% of your purchase price + rehab costsSome lenders will allow for PadSplit PropertiesBuying correctly with hard money can also allow you to get your cash back from the hard money loan so that you can do a Rate/Term refi with almost all lenders having no seasoning and getting better rates due to not being a cash out refi!

Cash for keys is a terrible technique preached by rookies.