I can't express how grateful I am for a place like BP where people genuinely are here to help.

I genuinely appreciate your offer to help, and I'll send you a pm. 

(She may have to recognize gain on that).Additionally, some of your closing costs and the capital repairs should increase basis.Another consideration, when a primary residence is converted to a rental, the depreciable basis is the lesser of the FMV at the time of conversion, or your adjusted basis.Hope that makes sense.

She has no REI experience, neither do I, but we both recognize that this is a great opportunity to help set her up for cash flow and security in retirement (she's 60).

But I would hope you're able to recognize the difference in yourselves from the typical American who doesn't know what they are missing out on by spending their money on cars, lattes, clothes, and cable.Please, read the things I've said or take the time to listen to the podcast before casting assumptions on what I'm saying.

I think I recognize where your confusion might be arising.

***Note, I have not been paid in any way by them, just a genuine reference

@Jean NortonUnless structured as a tax deferred exchange you and the park owner will recognize gain and have a taxable event even though you are trading properties.  

In my experience, the real estate industry can be very cut throat, it's really nice to see people who genuinely want to help other investors in the their road to success and financial freedom.Just a little bit about me:  I am a Colorado native, born and raised in Boulder.  

Not sure what kind of splits etc. he offers, but he was very kind, spent about half an hour on the phone with me and seem very genuine and down to earth to me.