The gain is tax free, $250ksingle/$500k filing jointly.

Joint Ownership with a Formal Agreement: Another option is to keep the mortgage as it is but create a formal agreement where your sister-in-law is no longer financially responsible for the property.

Depending on your state, you may be able to enjoy a step up in basis upon the death of a spouse.Non-Community Property StatesIn every state but the community property states, spouses are treated as joint tenants with rights of survivorship (JTROS).

Would be called a joint venture .

Luckily, if you have lived in this home for at least two years, you can sell the property and use Section 121 to exempt up to $250K in capital gains (or $500K if you are married filing jointly). 

Flexibility in Ownership: Unlike joint tenancy, tenants in common can own different percentages.

It’s a higher hurdle than a credit card charge back and much higher than ACH.

I joined some facebook group and sometimes the members of the group offer a joint venture where the original investor has bought a property but will need my money for the renovation.

If a tenant is breaking their lease to leave, we will work with them, but we make them cover the gap period between tenants as "still their responsibility" - and we let them know we are really good to get the unit filled quickly - so it is a joint effort to save the tenant money, and to fill the unit quickly.All the best!

Would love to hear from @Dawn Anastasi who I believe manages some C properties.In Kansas City, I have seen C properties yielding 25-35% in certain cases, and B properties producing closer to 12% would people take that extra 20ish% pro forma returns for the head aches?