I believe an effective approach is to include a seller concession in the purchase contract, specifically as a seller contribution towards the buyer's closing costs.For instance, we had a case with VA buyers where we implemented this strategy, allowing a portion of the loan to be disbursed to them in cash.

You'll be able to take out half of your vested balance though, so not a ton.If you liquidate it, you're going to have to pay 10% (assuming you're under 50 years old) + taxes owed if it's pre-tax.So maybe a combination of the two using a HELOC on the equity.Is the 401k in the Roth portion by any chance?

We had camera put in, and plumber could see portions of cast iron and said we should replace everything.

The tenant is paying their portion of the rent (the majority is coming from city) but the tenant has been difficult to deal with and I'd like to find an new tenant once their lease is up.

If any portion of the building or structure is occupied by the taxpayer, the gross rental income from the property must includes the fair rental value of the unit occupied by the taxpayer.IRC 168(e) defines a dwelling unit as “a house or apartment used to provide living accommodations.

So, your CPA is correct in saying that the insurance proceeds won't be taxable assuming they were used to repair or replace the damaged portion of the property.Cost Segregation Study (CSS): A CSS is a tax planning tool that allows you to accelerate depreciation deductions by identifying and reclassifying certain components of your property as shorter-lived assets.

Properly scheduling inspections for HVAC systems, water heaters, septic.. etc, is vital to minimizing emergencies.

Just make sure you’re comfortable with the repayment terms.Cash Savings: If you’re hesitant to dip into your non-retirement savings, try to assess whether you could use a portion of it for the flip while keeping enough for emergencies.

Ill take the lead on this one.Not sure where youre from but in the Greater Hartford portion of CT we use 2 different buyer broker agreements.

I have seen a man who when he reads the contracts, will make notes on the right hand margin of the page with a line going back to the portion of the contract that he is noting about.