If the taxpayer (or its tenants or agents) refuses to deliver possession, then the investor must give written notice to vacate, wait six months, and then file an ejectment lawsuit.

I'm voting for life in prison -- it costs more taxpayer dollars to execute someone in this country than to keep them locked up for life...this guy isn't worth my tax dollars...

Technically you need to report the income when you receive it because you are a cash basis taxpayer.

However, you generally cannot deduct these expenses if the courses (1) qualify you for a new trade or business or (2) satisfy the minimum requirements for your current position.In fact, here's a great case you should read that covers the exact same thing you are talking about in which the taxpayer was audited and denied a $21k real estate education write-off: THOMAS J.

If you renovate old buildings (usually with a ton of tax payer funded redevelopment $$$) you are treated as a hero but if you rehab a home with your own money on the line and make a profit then you are some sort of opportunist that is hurting first time homebuyers.

Yes, the government happily accepts tax payments with those

In that event, the LLC might be viewed as the taxpayer for the property even though it is deeded to your name.  

Capital gains taxes never come into play.If you live in it for two of the five years before you sell you can exclude gains up to $250K for a single taxpayer, $500K for married filing jointly. 

Capital gain that keeps the taxpayer at or below the 15% tax bracket is taxed at 0%.  

I usually see it referred to as being a 25% rate, with no reference to what tax bracket the taxpayer is in.