That's good information, and I think you are right that they would get tired of seeing me monthly and as long as nothing is out of the ordinary I don't really want to be there monthly either. thanks

Traveling with a spouse or a partner in regards to meals get a little gray, it's one of those vague rules "is the expense reasonable and ordinary" It's a good idea to get them involved so there is no question, for example my wife does the books and picks colors and finishes.Hope this helps, travel safe!

Hey Tom,Just wanted to chime in about IRAs.You had mentioned funding your Roth IRA from your Traditional IRA, this is called a Roth conversion and doesn't have limitations as to the amount you do, but as you mentioned will be taxable as ordinary income.  

He had suggested that I just keep it and use it as a rental and I would receive as much income as I had received from a note, yet with this one I would have tax benefits and appreciation benefits rather than just ordinary income.

The improvements themselves, anything you spend getting it ready to rent, and big capital items have to be depreciated over multiple years.If net rental income is positive, you pay tax on it at your ordinary rate.

Rental income is ordinary income which is taxed at the taxpayer's marginal tax bracket rate whether the rental property is held in his own name or in a passthrough entity.As a general rule, the passthrough entity is tax neutral, so there is no tax advantage to be gained by holding rental property in a passthrough business entity.

Eric Peterson You can deduct passive losses against ordinary income without limits if you qualify as a real estate professional.

., by making the interest on the loan ordinary income to the owner)?

It can be either passive (not subject to Self-Employment tax) or ordinary income (Subject to Self-employment tax) 

There are a lot of moving parts with this that make it a bit out of the ordinary.1) Place of residence is somewhat tied to employment.