No time for any ordinary financing process.If you're experienced buying at auctions and are willing to buy with all of the usual unknowns, this may be doable.

Regardless, you should disclose anything to your lender that you are legally required to.However, I don't think that this would be anything out of the ordinary.

Multi-family depreciates on a 27.5 year schedule as 1-4 unit residential real estate.REIT income on the other hand is typically taxed as ordinary income (which for a California investor at the top tax rate could equal as much as 52.9%).

From the IRS:"Short-term capital gains is taxed as ordinary income, which could be as high as 37 percent.

Alex, it would be treated the same as it had been before (taxable ordinary income).  

Semi-private greenbelt next to patio.

Our neighbors, a 64yrs old woman w/a large condo who lives on the other side of condo, hears nothing, has the audacity to say, when we first moved in 'Oh that's what 20 yrs old do about son who is on the patio adjoining the fence next to our bedroom, has a gang of young men out there 7 nights a week, until 1-2-3-4-5 am'.

You misunderstood.....depreciation write offs, assuming you can’t use them against your ordinary income, simply carry over and they reduce your gain when you sell.

Purchase price: $260,000 Cash invested: $50,000 Added 1/2 bath, updated full back, new plumbing, removed oil tank, update electrical, all new everything in the kitchen, built patio, refinished wood floors.

Items that are ordinary and necessary in the business industry can be currently expensed or capitalized and depreciated.Creating an entity for asset protection is ordinary and necessary in our industry.