She wants to give me her house and move into a senior citizen home@Dana N Johns: Just a couple of thoughtsTalk to a real estate knowledgeable, CPA, not to your standard CPA and not to unknown investors on some forum in the ether for a matter like this.Now, if your mother has lived in the property for two of the last five years, she is entitled to a tax break on capital gains if she sells or if the title changes hands (basically sells using creative finance).However, if you inherit the property, there is a tax advantage to you in terms of stepped up basis and capital gains and a tax advantage to her from incurring capital gains if she is outside of the “two of the last five years” window.As far as the Medicaid situation, that is best explained by a CPA or tax attorney or Enrolled agent.

Seeking advice from a local real estate agent or financial adviser may also prove beneficial, as they may offer valuable insights into the unique market dynamics and investment prospects in Philadelphia and Los Angeles.

I would love to connect if you are interested in more insight on the market, i work for an investment brokerage and i help multiple investors finding deals and running numbers.

Thank you all for the insight and answers!

If you can definitively prove that the seller intended to deceive you about the square footage for their personal gain, you may be able to take legal action, but probably low chance of success considering you had ample opportunity to measure the home or get an appraisal with measurements prior to closing, and had your chance to negotiate the price based on square footage and all other factors prior to closing. 

Absolutely, good insight.

I'm hoping to get some insights and experiences from those who have done this before.Have any of you used professional interior designers for your short-term rental properties?

I sold the house last July and my account says I'll owe on the gains of all 3. 

Thank you again for all the insight.

I would appreciate anyone’s insight on managing contractors quote and how to manage repairs in a cost effective way.