If its in probate once a purchase contract is signed to buy the house.

@Felicia WestThe BP calculators are very general and not very market or neighborhood specific.

The properties themselves are often different, maintenance costs are different, purchase prices are different, utility costs are different, etc.

If you have a more extensive full gut rehab you need drawings depicting the work to be performed and material specifications.

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

The law was written specifically to close this otherwise obvious loophole. 

Purchase price: $270,000 Cash invested: $10,000 4 bed one bath single family home in small town with great school district, about 10 minutes from major city on Front Range of Colorado.

Quote from @Rian Madden: 'Sell the Portland property and invest in another state that doesn't hate landlords.Beyond that, it's hard to give advice without knowing specifically what you are trying to accomplish.

You should use a state-specific lease that is clear regarding the start and end dates, the monthly rent, the fees that will be charged (ex. pets) and those that may be charged (ex late fee), the amount of the security deposit, and a clear list of rules associated with the property (no smoking inside is a big one as are rules related to parking).

Results: The final numbers – purchase price, rehab costs, sale price, profit, etc.Key Takeaways: What did you learn, and what tips would you give to others?