White trimmed french doors open to a spacious outdoor patio, perfect for entertaining.

Single Family Houses have the benefit of being able to sell them to ordinary homebuyers.

I feel more each day that the big banks and businesses ARE the gov't, but at least it's a small step that ordinary people can take to feel better about their actions and perhaps have a real impact that reaches farther than their individual ballot might...

You have two years from the payout to use the money for replacement property otherwise it is treated as ordinary income unless part of the proceeds were to cover lost rent in which case it would be rental income.You must use form 4684.

Plus even making sure you keep deals in the short term capital gain class is good because even though they are taxed at ordinary income rates they are not subject to self-employment social security tax.I don't like C corps except for a place to do your benefits in, and don't own the whole thing your tax adviser can explain why.

Don't make the assumption that because someone lives in an ordinary house, drives an ordinary car or hangs out of ordinary places they don't have money.

Extras that would make it even nicer: add a master bathroom suite, covered patio, 1-2 car garage depending on permits, minor landscaping, love :mrgreen: Some renovation costs i would guess at $15k for carpet, a/c, dryer plug, windows.

LOL well I try to make the best of life and if that means making things a bit our of the ordinary then that's fine with me!

For non professionals with AGI (adjusted gross income) under $100,000, $25,000 of passive losses can be offset against ordinary income.

I usually just tell the neighbors that I'm trying to run a very clean operation and ask them to call me if they see anything out of the ordinary.