I know that sounds crazy, and you and I would never think to do it, but people do.At the end of the day, inheriting tenants is a gamble and risk you need to factor in.

Or that they’ll be able to use a highly sophisticated technique that can really only successfully be utilized when all the stars align and in circumstances that occur irregularly and need to be recognized as such, always by an experienced real estate investor.  

WA does not recognize your “certificate” from Lee Arnold.

The area does not have explicit rules on STRs so its a gamble with that strategy.

Thats not a wise gamble in most cases if there is a market change for any unknown range of factors.

However, Technically you should have filed partnership tax return where he would have recognized his portion of yearly activities and sale at the end.

Focusing just on appreciation causes people to take on negative cashflow situations, gambling that the market will eventually save them before they run out of cash.

Don't gamble. 

Its a gamble to go the permit route or not in Philly and absolutely matters the neighborhood/your neighbors as they are usually the folks that will call L&I on you OR if your property is near other construction sites where inspectors would be traveling to/from.

Its a gamble to go the permit route or not in Philly and absolutely matters the neighborhood/your neighbors as they are usually the folks that will call L&I on you OR if your property is near other construction sites where inspectors would be traveling to/from.