Turnkey or close to turnkey would be nice, but willing to consider a fixer upper for the right opportunity. 

I have yet to find another rental property for pricing comparison that isn’t an unfair apples to oranges comparison.

One seems legit but the price for the course is 11k.

Holding costs should be lower than using all of HELOC. 50k won’t cut most purchase prices, so have to use some of HELOC too. 

In the unfortunate event someone passes away and the property transfers via probate or a will, that fair market price gets "stepped up" so no taxes are paid.I would check with a CPA, but this is my understanding.

Hey guys,This is an update on my first post about a house hacking opportunity I'm settling on!

More than likely you would need to give up around 70-80% of equity and own a minority - some deals would allows you to buy it back at a set price as well. 

Purchase price: $74,000 Cash invested: $25,000 Sale price: $145,000 I acquired a property from a couple needing to relocate, with significant repairs required.

I think it helps flippers as it is easy to find the purchase pricesp versus selling price.  

Let's break it down with precision:The "Pain" (At First Glance):Your $2.8M sale splits out as:Building (§1250): $2.3MPersonal Property (§1245): $500KOriginal Basis Allocation:Building: $1.6M (depreciated over 27.5 years)Personal Property: $400K (fully depreciated)Building Depreciation:Annual: $1.6M ÷ 27.5 = $58,182Total over 10 years: $581,820Gain Breakdown:Building (§1250):Sale Price: $2,300,000Original Basis: $1,600,000Less Depreciation: ($581,820)Adjusted Basis: $1,018,180Total Gain: $1,281,820Unrecaptured §1250: $581,820 (25% max rate)Capital Gain: $700,000 (20% max rate)Personal Property (§1245):Sale Price: $500,000Adjusted Basis: $0Ordinary Income: $500,000The Strategic Play:Remember those suspended passive losses you couldn't use?