Hi,Unique scenario.

If you have a flat roof with drains, or a pitched roof with gutters I would ensure either way that the flow of water is un-obstructed most commonly by leaves or pine needles from trees.

Will the capital gains in this scenario be considered passive income from an IRS perspective ?

It's common practice in Europe, Canada, Australia but almost unheard of here in the US.

I'm looking at Duluth MN because of a video posted on BP, but I recognize this is an opportunity most would dream of, because it's one I've often dreamed ofWell now it's in my lap, and the pressure is on.Hit me with your scenarios, what would you buy?

- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

@Jason Sung Yes, this is common.

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!

Is it common to purchase a home with other debt?

Do you think it's common for a tenant to sue for an amount greater than insurance can cover, then take your property or even your personal assets?