. $500,000 tax free (if married) is nothing to sneeze at.

Get (business) married - form an LLC for long-term partnerships. there are various blends of this

This way it is the LLC and not the foreign national who is the tax payer for the property. 

The gain from the sale of a primary residence up to $250,000 (or $500,000 if married filing jointly) is generally excluded from taxation.Now, let's focus on the depreciation recapture.

I would keep things formal like that with him unless you get married because things can go SERIOUSLY sideways.

There are survivor benefits in CA so if our tenant had married or had an heir who wanted to reside in the property, that person could have taken over the lease. 

These people also tend to be married and their spouses tend to have verifiable sources of income.

I do have cash flow from my current job however, I am recently married and about to become a dad in a couple of months.

==I believe @Jaron Walling is referring to offsetting capital gains by $500K due to filing as a married couple if you've stayed there for longer than 2 years.

I did 4 fundings in Janesville last year and my guy got through the first one on time and for profit we expected then he up and passed away from a Diabetic coma.. leaving me with 3 that I had to work out of .. two I sold right away for what I had in them one we made a small profit It happens.I do background checks  dont really care to much about credit but I dont want any criminals and then If they are married I want to meet the wife and take them to the nicest dinner in town.