Now that I know more about Capital Gains tax we just bought another piece of lakefront property under our LLC (we are licensed contractors).

I've enjoyed the ride, taking my tax free gains and bailing ;) rent prices are still too low to even consider leaving my primary as a rental.

The house gained considerable appreciation over a few years and so we decided to use the equity to leverage towards the purchase of a rental property.

I'm not an expert on the tax part, but it sounds like this would be short term gains if he buys you out.

I would like to find someone with above average knowledge about investing that would be willing to help me gain knowledge about it in exchange for work on their properties.

People work hard to gain something and I have no right to use it inappropriately.

Check out GreatSchools.org for school information.Are you looking to defer the gain via a 1031 exchange down the road?

Initially I wanted to do the 203K FHA loan, buy and fix and gain instant equity.

The dryers had a coin slot, but the washers took more money and had a coin slide device.Someone figured out early that year that if you put quarters in every slot of the coin slide and pushed the coins halfway in, just short of the point when the coins fell through the slots in the device, and then put all your weight on the slide and physically yanked the slide out again, the washer would turn on and you would get a free cycle without paying.

If it's going to help you gain the confidence of friends and family so that you can scale, great.