If you have, then you qualify for the 121 Exclusion (Section 121 of the Internal Revenue Code). 

If permits were not pulled I am requiring the seller pay for permits to be pulled to verify the work was done correctly.If for some reason we found this out after the closing and there were issues with the home the seller is now open to an court case or arbitration.

Here are some things about Houston People do not know about.Last year+23,600 jobs (.088%) Growth in Jobs not loss2nd largest exporting port in the world, for every ship that comes in 2 go out2 international airports in Houston2 of the largest airlines in the world Hub'ed out of Houston (Southwest and United Airlines)Largest medical facility in the world (If it was its own city it would be the 16th largest city in the country)Fastest growing population in the countryTexas is the 10th most business tax friendly state in the country and if it were to not charge a franchise tax it would be #1.205,000 Non-Owner occupied homes in Houston1 out of every 4 people in Houston rentsIn a down economy the rental market goes crazy because when these people lose their jobs they become renters which drives up the rent pricesHope this helps clarify the Houston market 

Shaping Your Future in Real Estatewith Brian Biro, America’s Breakthrough CoachOur very own Asheville-based international speaker, trainer and bestselling author will join us for a powerful presentation at our February meeting that you will want to see…and invite your business partners, team members and your spouse/life partner!

Let your internal compass guide your actions.  

Plus, then that seller is giving you equitable interest in the property, and if you stop paying rent it's not an eviction process, it's full blown litigation/arbitration/mediation due to the buyers equitable interest via the rent credit.

So great that this forum has such an amazing international influence!

I love and am very interested in international real estate so keeping up on the details of your progress would be great.Best,Dom

I have not look at property yet so can not tell what all internal fixing is needed.

If your market is anything like Seattle, you can get paid $20+/hour for doing basic project management help and every large company loves having interns.