This approach simplifies the sale and avoids unnecessary legal or tax complications.If she want to share the proceeds and tax obligation in a technical way, she need to file a partnership return for this property.This post does not create a CPA-Client relationship.

I'm of the opinion that a property that cannot create $15-20k+ per year in rental revenue is going to struggle keeping up with maintenance and repairs.

Stocks don't give you this.The tax code's most beneficial deductions are geared for taxpayers who create jobs (owning a business) or who house others (rental properties).

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

I have created a discord chat for any current or former LYL VIP members to sync up.

To determine the correct treatment, consider the RV's permanence, utility connections, and business use.This post does not create a CPA-Client relationship.

If you can't find existing meetups, create your own by organizing casual gatherings for like-minded investors.

For investors, this creates a sustained demand for newly built duplexes and units, whether for rent or sale.7.

Consult a CPA to ensure compliance with tax regulations and explore strategies that align with your goals, such as providing for your mom while managing tax implications effectively.This post does not create a CPA-Client relationship.

As you get to this point your gaining more confidence in the options because you know option A and B had a certain outcome that wasn't option C, and this would give you more confidence you're doing the right thing for you.From there, I would be identifying properties to acquire if you don't already have some in mind and then my next sheet is creating the plan.