Personally, a developer bought land next to us and tried to clear a portion of our land along with his, said the line was unclear and he'd dispute it so best to let him proceed, but he backed off once he knew we had our survey and owners title and would make a claim.

Hey John, To break it down for you: Capital Gains Calculation:For the 33.33% Interest Acquired via Quit Claim Deed (November 7, 2015): This portion of the gain would be calculated as the difference between 33.33% of the sale price and the original purchase price of $52,700.For the 16.66% Remainder Interest Acquired on November 17, 2020: This portion of the gain would be calculated as the difference between 16.66% of the sale price and the fair market value of the property on November 17, 2020 (the date of Person A's death).For the 50% Remainder Interest Acquired on January 17, 2023: This portion of the gain would be calculated as the difference between 50% of the sale price and the fair market value of the property on January 17, 2023 (the date of Person B's death).Consideration of Home Sale Costs: Deducting allowable costs associated with the sale (closing costs, repairs, etc.) from the total gain to arrive at the taxable capital gains amount.1031 Exchange as a Means to Defer Capital Gains: You're correct that a 1031 exchange could be utilized to defer the capital gains taxes.

My experience is that generally, if you are not doing work on a portion of the house that you don't need to bring that portion up to current building codes.

It's vital to understand these assessments and budget accordingly.

Therefore, it's vital to calculate these costs before purchasing the property.Seeking the help of a 🏗️construction professional is recommended to create a comprehensive budget that includes hard costs (materials, labor), soft costs (architectural and engineering fees), and contingencies for unexpected expenses.

I'm responsbile for designing the plumbing/mechanical portions of these real estate projects.

Purchase price: $390,000 Cash invested: $25,000 House hacking is a strategy that involves reducing or eliminating your housing costs by renting out a portion of your residence.

Bonus depreciation is derived from the portion of the property's value with a shorter useful life than the buildings themselves.

That way you can use that 2% to do a rate buy down to ensure a better cash flow.If you are buying it as a Primary owner occupancy I would ask for 3-4% seller credit to cover rate buy down and a portion of closing costs.

Rehab portion of the loan was to repair some interior work worth up to $65k. unfortunately 1 month after closing, I had one of the tenants that was getting evicted complain to the city and I ended up getting a bunch of building violations.