As long as he can manage it, it doesn't make sense to longterm rent it.The property has appreciated with the rebound from the recession, and is now worth over $300K.THE QUESTIONSSo, if banks don't like the idea of refinancing a property that doesn't have a longterm lease on it, and they're not willing to recognize the AirBnB income, what do you do?

If it's technically too soon to re-sell, why not ask the Bank for an exemption due to your genuinely changed circumstances?

:) )  Also, I enjoy being hands-on at first to make sure when I launch my rental it's in its best possible form - but I recognize that's not a necessity.I suppose I could also look at a larger down payment and an eye to refinancing if rates stay low, or borrow on the built-in equity later... 

I have been genuinely interested in real estate investing since I was a youngster but my life circumstances(some out of my control and some, not so much) never afforded me the opportunity to make the jump. 

An LLC is a state recognized entity, not a federally recognized entity, such as a corp.The two main advantages to placing property in an entity are for asset protection and tax savings. 

If you put it in the exchange but don't replace it before the 180 days then it is taxable at day 180 (the advantage to this  is that you would recognize the gain in 2018 rather than 2017 so tax wouldn't be due till 2019). 

You could certainly structure the sale of the property as a 1031 Exchange and defer the payment of any capital gains and depreciation recapture taxes and you would avoid any Medicare Surcharge taxes since you would not recognize any taxable gain from the sale.  

Ask if the have any clients that need to sell properties to recognize gains or losses within the 2017 tax year.

There IS indeed such a thing as going too big on a first deal and in my nearly two decades of investing I have personally had friends and family pay a serious financial price for not recognizing the risks of such an "all-in" plan. 

My partner and I both have experience in construction and are both licensed builders.ARV for house $320,000...maybe more.Purchased for $218,000.House is in Troy, MI (strong market, great location, strong school district, great community)So…….I recognize the outside is UGLY on the outside.I am interested in your thoughts on what exterior improvements you would make to give this thing curb appeal!