Also the plan is to split the sell of the house with me and my siblings, will we have to pay taxes on that money (around $20,000 each)?

The apartment I live in now, I'm paying $500/mo plus utilities (splitting 1500/mo with my siblings) but I can afford to pay more than that per month obviously.

This type of arrangement also permits you to invest your Solo 401k with family members such as your spouse or siblings.

He also informed me that:- His brother did not have a will in place, and there are 4 or 5 siblings including him.- They have not spoken with a probate attorney, however, the siblings are currently writing up an affidavit stating that they will all sign stating that the brother I spoke with was the care taker and is the decision maker for the property. - There is a tenant living in the house, however, no lease agreement was ever signed.My questions are:- Is there a way to avoid probate if there is not a will in place?

I also don't plan on living there for the next 10 years neither does my siblings maybe two years tops and in that time i will be comming out of pocket 300-400$ a month not including if anything breaks.

Siblings usually have to get pretty ticked off to sue another, so as Rick mentioned you can be bad guy, for a price.Just don't put out any money until you get the goals set and strategy mapped out, step by step. :)

Maybe it's time for Yu to have a talk with a real estate attorney to keep himself out of potentially hot water with the IRS as well as the owner or his siblings suing Yu's behind some years down the road.

Which is to say that she is the most responsible of the siblings.

If its clear from the will, beneficiary deeds or whatever that you and your siblings inherit this property, then let that process occur.

If so, I would try and find siblings that would live together.