I am reading about two different strategies......one states purchasing within an IRA to avoid the 10% penalty and taxes.....the other says that all the rental tax savings is removed when purchasing inside an IRA and will be left to pay ordinary income once withdraws do occur. 

Imagine how many angry phone calls you will receive when one or two tenants accidently set off the alarm systems at night?

In the past month he has been in five car accidents.

We by accident bought an amazing house deal we flipped to our taste and with the expansion of our family after living there only 2 years we had to sell (no capital gains!).

It occurred to me while reading this 'Why wasn't the animal with them?' 

It didn't occur to me that my lender would have restrictions. 

These will be treated as separate qualifying and non-qualifying interests.The Preamble to the regulations make it clear that the election to step-up the basis to fair market value is only allowed for the portion of the investment made up to the amount of prior gain AND where a proper deferral election has been made.Since QO Zone Designations are only good until 2028, how does this impact the elimination of gain which occurs upon holding the investment for 10 years.There is no statutory language, as a condition to making the basis step-up election, that he QO Zone continue to have such designation at the time of sale.

He started to tell me about "hidden" concessions that can sometimes be missed.We are all familiar with front-loaded concessions to get a tenant to sign the dotted line to come live at our property.However, we don't always think about the back-end concessions that could occur and do occur.This is where a tenant is told that instead of being provided 1 month free up front, that they will get 2 months free at the end of their lease...or whatever the concession may be.Sellers will sometimes use this tactic to get their property leased up prior to sale to up the NOI and you don't find out about this until you close on the deal...months down the road.Then when those concessions come due....you are stuck with much lower cash flows than originally expected.The best way to protect against these types of hidden concessions is to perform your proper due diligence including a very thorough lease audit. 

Nope, the sale occurred in June....that is what sets the date, and the amount and type of gain.It’s different than the sale of property though owner financing because the seller met the requirements for long term cap gains At The Time Of The Sale.  

The first closing occurs with funds the buyer brings to closing.