That is too bad, because with some understanding she may gain an appreciation for them when property used.

You can also get a RE license (not that you need one, but just to gain knowledge) or go work at a RE office as a clerk or Gofer.#2 - Start going to events like those at Home Depot on Saturdays, where they show you how to tile, or other basic trade tasks. volunteer to help friends, volunteer for a Habitat For Humanity project.

Thirdly, if the losses can only get carried forward to selling time when I realize capital gains, then isn't there the rule (i forget the name) which allows you to sell, and buy another house within few months, and hence you don't have to pay any capital gains on the first house?

You’re looking at turning a $500k gain from tax free to a tax bill in excess of $125k.

Investment Info:

Single-family residence fix & flip investment in Durand.

Purchase price: $116,000

Cash invested: $19,500

Sale price: $198,000

Contributors:
Peter Vekselman

Pa...

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $116,000

Cash invested: $19,500

Sale price: $198,000

Contributors:
Peter Vekselman

Partner Driv...

Your accountant would be the one to decide that.If you do qualify you will be able to take the gain allocated for that exclusion tax free. 

If so it sounds like a good house to just sell and make some tax-free capital gains. 

Will he also avoid capital gains tax?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $128,900

Cash invested: $50,000

Sale price: $310,000

Contributors:
Peter Vekselman

Partner Driv...