Therefore, any rent collected would be net gain even if your mortgage is more than your rents. 

If you fail to complete the purchase and sold the property you go back to 20% capital gain tax.

There are 4 key dates:year 5 -- 10% step up in basisyear 7 -- add'l 5% step up in basis12/31/26 -- recognition of adj. capital gains as gross incomeyear 10+ -- basis = the price you sell it at

We moved back to Augusta, GA in 2012 and had the $240K property at 3.75% and also using AHS for potential maintenance. 

I've gained a buyer lead and their criteria is...."

With that knowledge, I was able to confidently invest in a SFH that only needed minor repairs to become rentable, to gain immediate cash flow, as I waited for the market to appreciate.The goal was to buy and sell within one year.Breakdown: Purchase date: 6/30/2017 Listed: $60,000 Under Contract (as the Buyer): $55,000 Acquisition Price: $46,250 Renovation Cost: $1,955 Total investment: $48,205 Ten months after the purchase, we are under contract on the selling side at $65,000.

As for getting PM experience, you don't need PM experience if you plan on living in 1 unit and renting the other 3 out, you'll gain that as you go through the ownership process.

Also note that any reimbursement from insurance will affect if you have a loss (or potentially a gain). 

I am not able to get him to come down on what he thinks he should get so I am thinking of offering a sandwich lease in order to capture some passive income he is missing out on. 

I am doing the buy and hold for passive.