I know, because I've studied the market here, and the market's already risen quite a bit. 

After I go to some meetups and study more I will decide on my next move. 

It is near a university center and so is focused toward students with lots of study books and what not in the lobby.

@Edward Kanive It will be very hard to prove to the IRS that you and your wife meet the standards that @Taylor L. listed above. 

It's likely that the agent who owns this property can prove with a zoning certificate that it has 3 legal dwelling units, though it would ultimately be up to the buyer's due diligence to prove such. 

Or this is an expected question that should be asked every time until you build up a relationship of trust.It's one of those things, do I trust until someone gives me a reason not to, or do I not trust them until their track record proves that I can?

It proved to be successful but now screwed at the same time.

I have been studying on the subjects and would like to get started.

In fact, you can do an entire flip with no money and I set out to prove it and did.4.

In some however you may avoid it by proving to your property appraisor’s office that there was no change in ultimate beneficiary,Once transferred you will need also to update the name insured on your policies and update your lease and utilities contracts.Tax wise for you, if your LLC is disregarded that would not change anything for you as you will continue on the same depreciation schedule as before and you will just record the tax basis value of the property as a contribution to your LLC.