Closing tomorrow on a duplex e 128th, nobody knows about.

Worth its weight in gold.

Here is the rule from the IRS regarding length of stay for short term rentals:As defined by Treasury Regulation Sec. 1.469-1T(e)(3)(ii)(A)The average period of customer use is 7 days or lessThe average period of customer use is 30 days or less.

Quote from @Randall E Collins: This post is directed toward professionals who know real estate in and out.

https://www.eventbrite.com/e/reafco-quarterly-networking-eve...

here is the situation. i left a really good paying job to take care of my 81 year old parents because my dad is chronically ill and my mom is almost there. i wont go into too much detail, but my sis doesnt help them. ill leave it at that. we have a person who comes twice a week to help with cleaning and other household tasks. i carry the bulk of the weight cooking their meals, running errands, grocery shopping, picking up meds, and taking them to dr appointments. its a full time job. i get a small salary of $1000 a month from a care giver sub contractor for the VA. ive been paying my bills with what savings ive had, but only have a few months of funds left. i own a duplex. i have over 200k in equity. i live in texas and texas has weird laws about refi and heloc/heloans when the property is 4 units or less and owner occupied. i would rather not sell, but if thats my only option i will have to at some point.does anyone have any advice or possibly be able to point me to lenders who might be able to work with my situation?

Point Breeze,..) from Passyunk Sq/E.

:)4935 E 109th St, Garfield Heights, OH 44125

The plaster shows mildew, and because it holds so much moisture, he has recommended taking down the damp plaster before the weight of it collapses.  

The reason the 1% ownership is being suggested, is that this would change the tax treatment from being reported on schedule E as a disregarded entity, to being reported on Form 1065 as rental income reported from form 8825, and then this would passthrough to the individual taxpayer on form k-1.