Seems dishonest and might constitute mortgage faud.

Increases in inflation and interest rates don’t constitute a “crash”.

If, heaven forbid, son moves in with his girlfriend, then this is a rock solid prohibited transaction.There certainly is some gray areas around what constitutes a "benefit".

Remember, not all real estate professionals are schooled in what constitutes a good investment property.

Since we were actively marketing the property does this constitute having started the business?

Comm’r [615 F.2d 226, 45 AFTR2d 80-1248 (CA-5, 1980)], “a single transaction ordinarily will not constitute a trade or business when the taxpayer enters into the transaction with no expectation of continuing in the field of endeavor.”However, to my point, if he engages in flipping again, the IRS could hold this sale as part of his ordinary trade or business.

Originally posted by : @Brandon HallBest piece of advice: don’t take tax advise from a non-tax professional.There is a constitutional amendment that allows us to do just that!

The Howard Jarvis Taxpayers Association, California’sleading taxpayer advocacy group, will go forward with aninitiative to restore the right of parents to transfer their homeand limited other property to their children withoutThe announcement follows the 3-4 vote in the SenateGovernance and Finance Committee Wednesday to defeatSenate Constitutional Amendment 4, authored by Sen.

@Tyrone MarsonI think @Randall Alan had a lot of great points.If you manage them yourself, give them expectations upfront when are appropriate times to contact you for non emergency items, what constitutes an emergency which for us was largely active running water like a pipe break (go over location of cut off valves with them at move in) and loss of heat over winter.

BUT..I am wondering what constitutes a primary residence?