My next goal is to invest in a multi family property with a partner.Welcome to BP!

Wow, just getting started with INVESTMENT real estate.  

While gifts exceeding $18K per year (2024) require filing Form 709, they don't create an immediate tax, but the IRS may scrutinize this as tax avoidance.Tax-Saving Alternatives:Prorated Section 121 Exclusion – If you lived in the home part-time, you may qualify for partial tax exemption.1031 Exchange – If your share was an investment property, reinvesting the proceeds defers capital gains.Installment Sale – Spreading payments over time may reduce your tax bracket.Adjusted Basis Review – Factor in capital improvements and selling costs to lower taxable gains.This post does not create a CPA-Client relationship.

If you NEED cashflow, you probably aren’t ready for real estate investing.

I need to rent my house out but thinking about going the untraditional route ie Airbnb, Padsplit etc.

Welcome aboard Nick and good luck investing!

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Also for me I do not consider this as investing in real estate.

You do not have the opportunity to look inside the house before bidding so you're buying sight unseen.

Many private and hard money lenders will refinance your investment property if the numbers make sense.