A 1031 is not plausible as it is NOT investment property.If you live there for 2 of the last 5 years you can exclude up to 250k of gain(500k if married and filing jointly).

If there is more damage behind the stucco, then you can call your insurance.FYI, mold might be excluded from your policy.

With any insurance policy if you read up front the items covered in your policy then go to the back pages and compare the coverages with what is excluded and you will feel you are openly exposed.

I was thinking the following:Property Type: Vacant landLength of ownership 4+ yearsEquity: 30%+Not really sure whether I want to exclude corps or not.

This is straight from HUD:“Effective for all loans closed on or after January 1, 2001, FHA’s annual mortgage insurance premium will automatically be canceled-once the unpaid principal balance, excluding the upfront MIP, reaches 78 percent of the lower of the initial sales price or appraised value based on the initial amortization schedule and pursuant to instructions contained in ML 00-38.

They snuck in some language that specifically excluded self storage from the new zoning code.  

This needs to have been consistent for the past two years and you must reasonably be able to expect the same level of income going forward.You are an individual who has a net worth exceeding $1 million, either individually or jointly, excluding the value of a primary residenceYou are a general partner, executive officer, director or combination thereof for the issuer of the offered securitiesA bank, insurance company, registered investment company, business development company or small business investment companyA business in which equity owners all fall under the category of accredited investorsAn employee benefits plan, trust, charitable organization, partnership or company with total assets greater than $5 million

Rental of the seperate dewlling unit will disqualify the separate unit for gain exclusion, but if it was under one deed, as one house, you could not rent it for last two year before you sell it and exclude all the capital gain. if on seperate deed, you lose that option. 2.

It can be deemed a part-sale part gift.A gift-tax return may be required to be filed.Instead, if the parents own it free and clear, they may be able to sell it for the actual FMV and gift a loan forgiveness every year for the amount that can be excluded for gift-tax purposes.Proper planning should be done.

Website development is excluded from this offer but I can do that for a cost as it’s very time consuming so if anyone is in need of that let me know.