Again my personal opinion..

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.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

The plaintiff's and insurance company's attorneys seem to know the drill - which is that the case will be settled for under $20k.Have been told this amount is cheaper for the insurance companies than challenging the plaintiff's claim and going to a jury trial.In our opinion, this just encourages desperate tenants AND personal injury attorneys to file frivolous claims!

Thanks for your opinion. 

Cincinnati/Northern Ky is a good market to be in right now, in my opinion.

As others have mentioned you start on Form 4562, but in my opinion you should have a simple google sheet or excel to track all of this for your properties.

God bless all those who are helping and all those still in peril, you are mountain strong and you WILL MAKE IT.This post is my intent to document and get others opinions on what rental/vacation property owners can do.

If you can house hack locally, that's almost always the best way to get started (in my opinion). 

While I do not know the exact laws around what she is quacking about, I do know that the way she is portraying her opinion is clearly... not the law.