I would like to be in the partnership for the least amount of time possible but want to be sure I can present this offer as worth his time, which is very valuable. 

@Dave Foster   @bill ExeterMy view is without violating any irs rules your best option may be to live in the property 2 years and use the exemption.  

It's difficult to have a site with the functionality of BP that works the same on an app; a lot of designers are moving towards phone-optimizing language that essentially gives you the website on your phone without you having to pinch or drag to make the view make sense.

In some cases interest paid on the HELOC can be tax deductible if the funds are used for home improvements.Best of luck from Fort Worth! 

Given what you’re looking for (affordability, cash flow, and the ability to add value), Detroit might be worth looking into.

You likely only need to do the past 3 years worth for IRS purposes.You may want to see if there is a way to export transactions from QBO to excel and then import transactions from excel to Rentastic.- Unfamiliarity of software with my Bookkeeping and Accounting team.Altough not ideal, you may want to pay and do bookkeeping on both platforms for 3 months to see if you 100% want to make the switch.I still use Quickbooks, but the desktop version, it runs perfectly for all my bookkeeping needs.

That home was in Milpitas CA.. probably worth about 1 mil today.. but I lived there 2 years sold it made over 50k and I was off to the races.. primary home equity as I look back 50 years of ownership and multiple homes has made me well over 2.5 million in tax free gains. 

I view real estate investing as another wealth building tool in my tool kit.

County has assessed for 200k but would be worth more due to the area they are building homes left and right on that road and they are selling 300k+ and up.

So, with the house now worth $2.2 million, they’d only be taxed on $1.35 million of the gain after the exclusion.2. **1031 Exchange:** Just a heads-up—1031 exchanges allow you to defer capital gains taxes when you sell a property and reinvest the proceeds into a "like-kind" property.