Our parents worked very hard to be able to buy the property so it feels wrong to sell it.So all that being said how could I turn my liability to an asset?

Hey and thanks in advance.I'm trying to purchase my parents SF home (500 miles away from my primary) for $455,500.

So my parents have decided to move into a retirement community and will be moving soon.

I needed a place to house a parent and this provided the perfect solution.

Now if I wanted to buy in Arizona, but still live in California for a couple more years(still live with my parents), is it better to get a loan in Cali or Arizona?

I pay quarterly estimated withholding on my real estate commission income, but I don't know about the capital gains income.

Our property cash flows $378 per month after withholding $400 for future repairs, cap ex, and other maintenance.

Some of the parents are asking if the students would be allowed to back out of the lease if their college decides that the fall semester will be held online. 

@James MossThere is much added complexity when you add in a foreign partner.The foreign partner may be required to apply for an ITIN.You have to properly classify income to him as either FDAP(Fixed Determinable, Annual, Periodic) or ECI(Effectively connected income).He may be required to file a US tax returnYou may be required to withhold taxes on his behalf if the partnership earns money.He may be required to go through the US/China Tax treaty(if available).etc etc etc

I am wondering if there are any other single parents who have begun their journey with a child alongside them.