Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Cash invested: $25,000

Bought a house this fall in Minot for $90k. Currently have it rented and plan to ho...

It outlines profit and losses from rental real estate.

How do we minimize taxes on the profit we're making on this first home? 

I have 2 options:- finance the construction pre-selling the apt, and take my profits (expected to be around 700K pre-tax); or- finance the construction with a 6-7%/year loan (collateral = my house), keep the 10 units, and once the building is completed in 24 months, rent them for circa 180K/ year gross.

Now, if she had someone she implicitly trusts to manage it, as though she were present, that might work, but the added costs would probably make the endeavor non- profitable.  

Don't split the work between multiple contractors if possible, finding one to do all or most of the work will keep prices down.Challenges were finding replacement pieces for certain items as manufactured homes were very different than stick built as well as going through state guidelines for affixing the house to the land Hey @David Jesperson, welcome to the BP Forum and congrats on completing your first solo deal AND making a nice profit!

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.

You profit share with them for the first 10 deals (at the higher levels) because they really are right there with you holding your hand, and as I mentioned, doing three way calls, etc. every step of the way.  

Sounds like you found a profitable niche 

Any ideas on what I could turn it into to help generate some extra profit?