Not to mention most Realtors don't understand investing, and or how we want to massage numbers.

It would all depend on how well you have your policies and procedures laid out.

Don't vary from your usual procedures.

The capital is not prorated in this case.Also, the investor can also qualify for a 1031 Exchange in this case (Revenue Procedure 2005-14) as long as they can say they have owned and lived in the property as their primary residence for a total of 24 months out of the last 60 months AND the property has been rented out for a sufficient period of time to demonstrate they had the intent to hold for investment (generally 12 to 24 months).

Stick to your rental criteria and follow the same procedure for everyone - it is the easiest way to make an educated - not emotional - business decision.

As an investor who understands the process but I read so many BP posts and legal info about new laws and procedures not to do them BUT investors do them.

Totally agree eviction procedure is just one of many components and varies by county and even city.

When there is a change in ownership of residential property there are procedures to follow.

The basic procedure seems to be: 1.

Thank you all SO Much for any advice as I have heard various opinions from local friends and I find the IRS examples/procedures difficult to follow and understand.