This is a case by case basis, but back to Warren Buffet's saying: invest in what you know. 

When I talked with her, I was told that this is the norm as they want to monitor my credit everyday till closing to make sure that there is no change in my credit history.

Increase Your Cost Basis: Document and include the costs of significant improvements made to the property in your cost basis.

I believe you were right he would inherit your cost basis, so he would owe capital gains.

I still made a ton of money net, from original cost basis to after splitting things unfairly.

I know there is all this talk about the Olympics coming but on a practical basis that has no effect on you unless you do STR, which you typically can't in a rent controlled property.3.

Our 4 SFH's have a cost basis combing around $900k.

Balance what you are learning through KW on how to be an agent and in the real estate class (much better basis for investors in real life than agents) with going to real estate investor meetups in your area.

They are going to look at tax returns, they aren't so much looking at it month to month basis.

This is why it is important to look at the market regularly and maintain an understanding of what prices are doing.When you are actively marketing a home, I recommend looking at the market every day or two.