For example, Inheritance tax, capital gains tax ( not planning on selling but just in case), etc. do we create an llc within a trust or do we create a corporation. my accountant recommended a c corp and doing a title transfer but from the research I've done the leaves us liable to capital gains tax.

We can hope for lower interest rates to alleviate some of the consumers concerns, but fear is real and creates welded pockets.

That is why I am here, to learn and apply principles to create a lasting legacy thru real estate.

If your interest only period is only 12 months, but you have tenants that are only renewing for a small increase in rent, or they elect to not renew and you have to get a new tenant in there, the income that property is producing is negatively affected at the same time your monthly loan payment is going higher, creating the perfect storm for a loan to go into default.

BTW, you must get a phila tax ID first, then a commercial activity license, and finally a rental license.Hope this helpshttps://www.phila.gov/services/permits-violations-licenses/g...https://www.phila.gov/services/permits-violations-licenses/g...https://www.phila.gov/services/payments-assistance-taxes/tax... 

It's not looking good for rate cuts.

With such low inventory, Investors are hungry for properties and this ain't looking up, unless the rates come DOWN!

If you are continuing to pursue this, I’d suggest having an attorney experienced in environmental issues assist you in the negotiation and due diligence.

And, if the home has, at minimum, retained its value then 8 years in loan payments should have reduced the debt therefore creating a potential profit when sold. 

On the other hand, i would like to live more comfortably and let my income reflect that in my life choices (and not have fear about losing my job and not being able to pay my debts.

So are there any specific pros/cons to home style vs choice renovation?