OK well if it has an HOA then that's a distinction that doesn't really matter for these purposes.

It seems that turnkey sellers are sprouting like mushrooms, not unexpected giving all the distressed inventory being snapped up.Current practice by the largest turnkey sellers strikes me as questionable.

That's going to be a whole lot of money for her, possibly the largest check she has ever received.

If you find out the deal doesn't fit you objectives in a few years, then you want to have an ability to market this property, with financing, to the largest available pool of buyers.

I have 2 "special needs" children which is where the largest of my expenses are...

Ebere,I must distinctly disagree with you as IRS rules and regulations state that all expenses in preparing the property for rental activity(defined as listing for rent or actually renting which ever comes first) are added to basis.He inherited the tenants when he filed for the deed of a home in which as he stated the intent was to flip.

The areas that experienced the largest property value drops (and thus have the greatest deals now) are the areas where the local banks have been burned the worst, and these banks are under pressure from their regulators and their own Boards, and have either completely withdrawn from investment property lending, or are severely limiting it.You would also be well-served to cultivate some private lenders, and disintermediate the banks out of the picture, as they're just a PITA.

You should have a warm and fuzzy for buying the LARGEST purchase in your life.

Any suggestions appreciated.There are two distinct types of financing and both require your and your money partner's ROI requirements and risk thresholds.One: An equity partnership is where operating partner and money partner have an ownership stake (title) in the property.

I feel that this one may be trying to avoid declaring income based upon their distinct rejection of receiving a 1099.