And after a year or two you can move into it and make it your retirement home without triggering the tax. 

On the advice of the fireplace guy who did our last cleaning/inspection, we sanded down the brick inside and painted it with the high heat black paint, and it states in the lease that they may use a fireplace-style candelabra if they'd like, but any other use will trigger all the rules in the Fireplace Addendum.   

I wish we could have had a talk before you pulled the trigger on this one.

Quote from @Jose Lacayo: Hi everyone,I’m on the fence of pulling the trigger on a build with Delta in North Port.

Although I probably get killed on transaction fees which is part of why I am not pulling the trigger (along with lack of time to execute well).There are games you can play for increasing your returns in the stock market (sector rotations, rebalancing, being a good company picker) but you lack operational control. 

They both are nurses and didn’t pull the trigger.  

Rental Income Consideration: If the property generated rental income while it was debt-financed, the portion attributable to the debt could have triggered UDFI.

Sure enough the rehab ran over budget (we had a large contingency that was used up -- some due to contractor malfeasance, some due to pulling the trigger on big repairs like a new roof) and the revenues were right around expectations, maybe slightly below.  

As I said, I have yet to pull the trigger on an investment, so I really forget this whole structure.

Local investor meetups are also a great place to find a mentor and just talk to other investors in your market.It can be pretty scary buying your first deal, but at some point you need to pull the trigger if investing is truly what you want to do.