Michael LautherAre there any sections of Long Island or Northern NJ that you would characterize as being similar to your section of Dayton?

The roof replacement might be fuzzier and instead be characterized as a general improvement or addition to basis and this Im not familiar.

I've asked my friends at Kingdom Trust for an answer on the IRA side and this is what they told me:  “The answer to this question overall is that the tax consequences will vary depending upon the structure of each specific deal and how the return on investment is characterized.

I draw this conclusion based upon your characterization of your discussions with him and the fact you have - apparently - not come right out and asked him if he wants to partner with him. 

As a side note, most state laws don't recognize the payment of "last month's rent" -- it's generally characterized as an additional security deposit that will not be refunded if last month's rent isn't paid. 

(To thise offended by my characterization of some, I apologize as a few do wear shoes)

How do you characterize the real estate market in the Carolinas (Asheville NC to Greenville SC) ?

@Benjamin CowlesAnd issue with lease options from a taxation point of viewLook at these six points to avoid a lease option being re-characterized as a sale1.

These are characterized by high maintenance, high vacancy rates, and the tenants are the most challenging.  

Know the IRS rules of having a RTO transaction re characterized as an installment sale.3.