I believe it is not in good enough shape.

I believe the greatest security you could put in place would be to take a 2nd position lien on the property behind the bank her financing is coming from.

I believe your depreciable basis when converting to a rental is the Lower of, your purchase price plus major improvements OR current value.

If I’m not the right fit, I believe I could help you find someone who is.

When you purchase a buy and hold property do you believe in making only necessary repairs or do you go in and gut the place even if it doesn’t help your ROI?     

I believe you can find a home in this area that needs a little work, but with loads of potential, for around 50-75k.

Back when I worked for a production builder, I believe our warranty kicked in when the crack was 3/16" wide.

@Aaron Klatt I believe anything you spend is just deducted from the total LOC and your payments are based on how much you're actually using similar to a HELOC but I could be completely wrong that's just my understanding of it from the limited information I remember reading.

@Grace Perez We are in Skagit and use Legg & Watne for our taxes, but I don't believe he is a real estate specialists, but does just fine in our small real estate business and is a great accountant.

Obviously the title doesn't change hands, and I do not believe there is any equitable interest in such a scenario (which also means one cannot market the property).