Getting into REI as a way to leave the rat race and live a more family and friend filled life.

If you're interested leave a comment below! 

I'm trying to confirm my understanding of a less straight forward capital gains scenario than the one-time purchase and sale most deals involve.Essentially 100% interest in a condo was acquired over time, as each joint tenant passed away, leaving 1 sole tenant who gained full ownership by rights of survivorship.I've gotten differing opinions from different professionals and am trying to understand the calculation of the basis and the final capital gains  tax that would be due myself so I can spot bad advice and understand deals.Assumptions:A condominiumNo depreciation has ever been taken by any owner.No 1031 exchange.No expenses or improvements.

I believe this leaves you with more housing stock to choose from because you aren't in an area surrounded by Illinois.

Accounting for approximately $10,000 of repairs, maintenance, and capital expenses per month, this still leaves a passive stream of about 20,000 to split between two partners.

I'm surprised you can even ask a tenant to leave?

Two weeks ago the same "OneRent Guaranteed Tenant" just decided to leave and not pay rent, not even penalty.

Second, leave alternating lights on at night. 

He stated they also have misunderstood the application of the law, and in doing so, made a hasty response to his request that they notify the tenant which leaves them open to a claim against them. . should anything go wrong. 

We've recently come across what seems like a great investment property:- Tenant Occupied, paying FMR- Slab home that we will eventually remodel ourselves after the current tenants leave. - Only 4 houses down from my current home in metro Detroit, MI.We toured the property and it was a hot mess, easily a complete remodel because of cigarette smoke damage that seems to have reached every corner, but the prospect of redoing it really excites us.