While not mandatory to purchase in an LLC, I would recommend it.

Quote from @Kristin Vegas: Hi bp. is it possible to do a HELOC on a house I purchased 6 months ago?

@Marc DeLeonibus Hey Marc, I did not end up purchasing the property.

Connect with a realtor, say you want to purchase an investment property. 

Your adjusted cost basis is the purchase price plus capitalized improvements minus depreciation. 

It's even better if you've done it with land that was purchased at an auction!

@Jason Khoury I purchased my current residence, a duplex, from a local non-profit about 5 years ago.

Purchase price: $424,500 Cash invested: $20,640 I purchased a small detached duplex that I plan on moving into one and keep the other as a rental.

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

My agent is saying that we are unable to split the contract that way (or reduce the purchase price), so I'm trying to figure out options.