We have sold (tax free), kept as long term and/or short term rentals as well.

(Anything that isn’t your primwry first is only tax free on a pro-rated basis.)I don’t know how you could swing it but…If they gifted you the kand they would avoid their capital gains tax.

The previous tenant left a machine, you are free to use it but it is not landlord supplied and if anything happens, its on you the tenant.

. - I was in a VERY similar situation here in Chicago, but I had less experience working on my own than you.I had a piece of land that I owned free and clear, but since I didn't have any development experience, most of the banks wouldn't talk to me. 

Whether you’re considering house hacking, turnkey, or multifamily, there’s so much opportunity to explore.Feel free to reach out if you’d like to connect or bounce around ideas.

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Feel free to reach out with any questions you may have or if you would like to see some past work.

Good luck, and feel free to reach out for more advice!

It’s better to pause and confirm than risk relaying false information.Remember, deals are built on relationships, and relationships are built on trust.