This $100,000 would be taxed at the applicable capital gains tax rate (0%–20% federally, depending on income) and subject to depreciation recapture at a maximum rate of 25%.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

Would love to hear your applications and utilize them within my business.

If I wasn't certain her story tracked, I would ask for documentation of her 401k balance and her application to withdraw money.

Most people don't qualify for that relationship.The seller financing will not show up or affect the credit score.However, when applying for a loan at the bank or especially a Federally Guaranteed loan, they ask on the application for ALL Loans, whether  or not it shows on a credit report.

Be diligent in your application process and verification. 

The market in Racine is much different than Kenosha and we have been having a hard time getting quality tenant applicants.

The new person must complete an application and pass the screening.

- You've got to go to the property for showing- Many do not show up, so you waste your time- Then you have to have a legally compliant rental application & lease- Some approved applicants disappear the day before or day of lease signing!

Missing these dates can have dire consequences.Schedule third-party inspections early and submit lender applications promptly.