One thing as mention above depending on the city you can save big bucks by replacing homes as your SDC and building permits are a fraction of a true new build..

Try to reduce it and cook a meal yourself for a fraction of the cost.

And to think - I'm nervous walking around after collecting just a fraction of that :-) .

If you have the property financed, the fraction that's financed IS subject to UBIT.

do it yourself for a fraction of the price on the MI state site.

If rates spike up and you pay back your borrowed portion within 2-3 months your risk to the market was fractional/marginal as opposed to a buy and hold your risk and interest rate sensitivity to the market is prolonged and can eat away at the spread you're earning on the buy and hold.

Intangible rights to the asset may be another story...https://www.sec.gov/about/laws/sa33.pdf(1) The term ‘‘security’’ means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a ‘‘security’’, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.

You could attack the quit claim deed transfer from Mom to SonYou could play dirty tricks with possession.In any event, you have a fractional interest worth about a fifth of ARV less cost and fix up. 

If I needed bookkeeping help it would not be a CPA, it would be a bookkeeper at a fraction of the cost of a CPA.Arlan Potter, CPA

I can do them for a fraction of the cost and keep the money for myself.I'm not saying that there is anything wrong with paying someone to do everything for you.