Bringing the monthly payment down to ~$1650-$1700No plan to currently sell for at least the next 3-5 years, since my brother and father will be residing here.Property 3:Single Family Home (Snellville, GA 30078)Given to me by my father after my mother passed (Legally have not taken possession)Anticipated Rent $1500-$1700/MonthPurchased June 1995 for $100KCurrent Equity 100%Current Comps $150,000 to $180,000Anticipated Repairs $20,000 (Should be repaired by end of April)HOA $0My Questions:I know there is a capital gains exemption (250K or less if you're single, which I currently would be classified as) if you live in a property for two years.

You would both just own and manage your own side. agreed that this is most likely the best route. at this point I don't even think its classified as a duplex, but an attached home.

well by checking the classified section of local newspapers and also I market in the areas that my buyers are looking for with flyers and i also attend rei meet ups

Starting now also might allow you to classify things more as repairs than capital improvements.

That should then not be classified as an "eviction", correct? 

@Khang NguyenWhen you do maintenance/fix things - i.e. a broken cabinet door - or when you clean and paint during turnover, those activities are generally classified as expenses.When you add or renew things to the property such as fixtures (lights, plumbing); a new HVAC system; new roof, new flooring, etc.  

., purchasing a property, are capitalized to the basis of the property once you buy it (in some situations some costs would be classified as start-up costs and amortized).If you never establish a business, e.g., never purchase a property, in a given area, then travel costs to that area are simply personal expenses that you may neither deduct nor capitalize.

It appears they do not classify the same area as a 'high cost area', so I disqualify based on my income being greater than avg med income.I'm certainly not an expert here though...   

It should be classified as a loan or a contribution.

@Matthew WardAny payments coming into you for services should be considered revenue.Any payments going out should be considered expenses.It depends if your books are for internal purposes or if its for tax purposes.If its for tax purposes - Payments for properties should be classified as an asset.