You assign the lease option agreement to a tenant-buyer and receive an assignment fee without needing to close on the property yourself.

For 2024, the annual gift tax exclusion is $18,000 per recipient (rising to $19,000 in 2025), and amounts above this require filing a gift tax return (Form 709).

If you look at the last 20 years of sales, annualized returns on single family detached are 6.18%.

However, if you inherit it through her estate, you receive a stepped-up basis to its fair market value at that time, reducing tax liability upon sale.Gifting it now has no immediate tax consequences unless its value exceeds the $18,000 annual gift tax exclusion (2024).

You will receive the security deposit in Checking but then transfer it to Savings.

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

Lending laws change frequently, and we receive emails from Lightning Docs throughout the year explaining their updates to the documents we use here in CA.

Has anyone who registered received their Zoom Meeting invitation already?

While I could kick myself now, I view it as an invaluable experience because it put me on the receiving end of a close and gave me direct insight into why people sell homes to investors.

I suggest setting up a partnership agreement that outlines the financial contributions that each party will make and the distributions each partner will receive.