Bloomington is a city located in south-central Indiana, approximately 52 miles southwest of Indianapolis. en.wikipedia.orgRecently, the city has been exploring co-living arrangements as a strategy to enhance affordable housing options.

The lower unit is a basement/guest suite.

I have several CFO clients that do similar heavy rehab projects in the Midwest (albeit with a lower purchase price), so you can definitely make the numbers work. 

Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

Also, if there’s a mortgage, transferring it to an LLC could trigger the due-on-sale clause, requiring lender approval.Better Alternatives to Avoid Reassessment & Save on Taxes:Living Trust (Best Option) – Your aunt and stepfather could quitclaim their interests to your aunt, who then sets up a revocable trust naming your mother and you as beneficiaries.

Due to current interest rates, many CAP rates are much lower than they should be and usually there is only so much price discount a non-delinquent seller will be able or willing to offer.

Any of the second tier large cities like Greensboro, Winston Salem, Asheville, Wilmington, and the surrounding areas will have plenty of options.

Another option is an installment sale, which spreads capital gains tax over multiple years.For unsold properties being distributed, there is generally no immediate tax event if assets are transferred at their adjusted basis.

I work with investors out of the country and have a few contacts I can connect with you on funding options. 

Our strongest case is that our bank appraisal says it should be much lower.