I have a fourplex that was damaged by fire, thankfully no one was hurt.

For ease of the example, let's assume the following numbers:

Property was purchased for $150k. Insurance check I will get is $80k.

...

The value of real property (VRP) is then subtracted from the sales price (SP) and the difference is the amount attributable to the value of remodeling or other improvements (VRI), which amount is subject to the gross receipts tax, or:SP - VRP = VRI (Taxable receipts)----------I disagree with this position since I'm not a contractor and don't have a contractor's license - the statute clearly says that condition one is "A person possessing a valid contractor's license...".  

This will trigger a taxable event. 

The current value of the property would be taxable income to you.  

These mortgages will require higher down payments and reserves, but still allow your IRA to take advantage of the principals of leverage.Check out North American Savings Bank and First Western Federal Savings.The use of debt-financing in an IRA creates a tax liability known as UDFI, whereby the percentage of income that is derived from the non-IRA funds is taxable.  

The 1031 accommodator says the names need to be the same on both closing statements.Here is what we are planning: Transfer title of the relinquished property into my wife and my names as individuals, close the sale and purchase loan and then transfer back into the LLC immediately after closing.Is there a cleaner way to do this without creating a taxable event?

This expiration could cause all the outstanding loans within the policy to be taxable.- asset protection from creditors in some states- borrowing money from the policy does not show up on your credit report or affect your FICO's- Privacy since the life policy does not show up tax returns and financial statements, unless if you claim it- Provide liquidity outside of qualified plans like roth IRA, IRA, 401k, 403b, defined benefits etc which have high restrictions on access to the money, potential withdrawal fee's, federal and state income taxes, age requirements, req min distributions potenially, limited access to funds (lesser of 50% of 50k on 401k's), guidelines to adhere to, and moreI think qualified plans are a good part of the overall financial plan and can be used to great advantage for RE investing along with correctly structured life insurance to provide adequate liquidity since most real estate is not very liquid and credit is not always available to obtain the access to capital that you may need (tailored to RE investor audience) especially in an emergency when your credit tanks or borrowing guidelines are constantly changing.Not all life policies are created equal and there are many different types of life policies from Variable universal life, whole, participating whole life, indexed universal life, straight 20 whole life, survivor joint life policies, term life policies, and more.

Since it's on the lower level and currently unfinished with cement floors, it doesn't count as taxable sq footage.

I humbly suggest that when it comes to building generational wealth, the name of the game becomes less about actual taxable income and much more about keeping more of the money in our control.

The portion/percentage that you occupy (again if you’re living in it) would be subject to potential taxable gain