Hello BP,My wife’s sister-in law passed away last year after battling cancer for a year.

For example, the previous homeowner’s seller disclosure checked yes there has been “Previous Roof Repairs” and “Previous treatment for termites or WDI”.

For example, the previous homeowner’s seller disclosure checked yes there has been “Previous Roof Repairs” and “Previous treatment for termites or WDI”.

She suddenly remembered wires that she had forgotten for her TV (she had 2x 5" holes cut out of the feature wall to hide her cables, without asking) so it was easier to have her reputable painter guy pop in and cover up the holes and remove her last items without me having to see her again.My fault for not just getting it done myself I suppose but she is the sort of tenant that uses Court Action in seemingly every sentence and was seen taking pictures of everything when she left and even took a picture of her notice taped to my front door so I was trying to minimize any court action by at least keeping her in the loop of all the damage so I could get her replies by text to use if she decided to challenge my return deposit amount.She did admit to the burns in the carpet (stupidly putting hot coals from the fire in a plastic home depot bucket) and argued that it wasn't cat urine but vomit as her cat had cancer (but obviously didn't think to clean them or have them professionally cleaned).  

@Bruce RunnSounds like Jordan may have waited long enough to get capital gains treatment but it would have helped a little if he did a partial 1031 into one of the new properties.

I'm neither a lawyer nor an accountant, but I recommend Googling "closely held corporation" and then asking your tax accountant how, if any, the proposed idea might impact your overall tax situation (https://www.irs.gov/faqs/small-business-self-employed-other-business/entities/entities-5: A closely held corporation is subject to additional limitations in the tax treatment of items such as passive activity losses, at-risk rules, and compensation paid to corporate officers.).I've read that when two closely held corporations owned by the same small group of shareholders do business with each other, the IRS sees a red flag because some people try using this approach to evade taxes.From my readings of personal finance articles, this additional scrutiny is based on whether there is an "arms length" between the two parties in a transaction. 

I also LOVE @Jenessa NeSmith’s royal treatment!

Some experience is preferable in negotiating.If there is any way you can owner-occupy the house whilst renting out the rooms to the students, you will get a more favorable treatment from the bank in terms of loan and interest rates.

@Ouman You If the property was her primary residence, yes, it will not qualify for 1031 exchange treatment.

These systems also generally include a waste treatment facility which will clean out all the water you use, as well as clean out rain water which is collected.