I believe you were right he would inherit your cost basis, so he would owe capital gains.

ThomasI believe those are reasonable assumptions.

I believe that he might want to move the Florida loans to Colorado I just found out but Im very hesitant to do it and putting all my eggs into one basket.

Costs may disqualify the opportunity even though in theory it can be converted.I believe its important to set expectations and if this is an 8 bedroom RSA5 home just as an example you very well could be looking at a building that's obsolete and again even if it is RM1, depending on the costs of the conversion, still potentially obsolete.

I believe this is one reason none of the deals I analyze are cash-flowing.2.

I still can't believe it doesn't already exist though! 

I dont believe there is any kind of HOA or ruling organization for these group of houses but it has me concerned that if one day they all decide they want to repave the driveway or add lighting or something along those lines, they would try and make everyone chip in and pay their fair share. 

The home I sold for $23,000 was flipped with in days I believe for $79,000.

I believe there are license allotments in many towns near and around Denver so you want to make sure there is a license available for the basement unit before you factor this into your cashflow plan.

I currently have to do a quick new market study to quickly filter out a market and it is tedious.I do believe the big names brokers are overpriced.