The mid term rental company is great but real wealth comes from long term ownership.

Second, the ownership of the relinquished property and the replacement property in the three (3) Private Letter Rulings involved two distinctly different taxpayers.

Ownership demand here seems to heavily outweigh tourism demand and i'm struggling to get anything to pencil.  

A relative who does long-distance real estate investing told me that I have to sign the final loan document and the transfer of ownership document in person.

I am wonder if there will be any lien on it as back would have already settled before acquiring the ownership.

Landlords sorted by unit count in Philadelphia as of January 20th, 2025.Note: It doesn't reflect pure ownership, especially for corporate landlords.

So, things change a bit.If it is his personal home, there are more restrictions.For an investment property, if you take over his financing, read through the deed of trust (mortgage) and see how they handle transfer of ownership.

The real estate community is full of experienced investors happy to share their knowledge.

I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.I will be posting more detailed insights soon. 

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck