==========================My relative is asking if this is a viable way to legally avoid having to pay taxes:STEP 1: SELL PRIMARY RESIDENCE (House A)-Sell primary residence to son-in-law for cost basis + $500K-File gift tax form for difference between sale price & market value-Not pay capital gains on $500K due to personal exemption.STEP 2: SELL RENTAL PROPERTIES-Do 1031 exchange and buy House A back from son-in-law-Rent out House A for 1 year before move back in==========================Thoughts?

If millenial homeowners can't even change their home's air filters, or snake a toilet, or change the oil in their car, that's guaranteed future business for HVAC companies, plumbers, mechanics, and those places all need a place to conduct business in.The commercial mortgage pricing software I use has somewhere around 50 different asset classes in it.

I interpretttev @Alan Asriants statement different than you but agree it is not clear   He could be indicating pools, basements, sunrooms do not provide a means for an extra tenant.  

Newbies create a lot of different issues, however.You are probably not going to be able to use Fannie Mae as a contingency.

You should reach out to @Melissa Haworth she can get the actual numbers/rents on STRs in the area to help run your comps.Each building is different, each area is different, it is important to find accurate data to make good decisions.

However, it sounds like you are confused about the different types of auctions that exist on Auction.com. 

Don't back down and keep on them :)If you waived the contingency then it'd be a different story.

I totally get that hard money lenders typically focus on short-term loans for quick turnarounds, but my goal is a bit different.

I didn't know there was a different type of insurance that I needed.I had bought the home with a standard mortgage and standard insurance and then I decided later that I would flip it. 

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