@David RobertsHi David,I added a column for the New Financing situation as you asked:I zeroed out the Financing from the Purchase by making the DP% = 100% so you did not carry a mortgage.I also lowered the CC% to 3% because you no longer had to carry a Mortgage which generally, you will need to have to pay a Mortgage Tax.In the I Column, I added a new Finance Column where in 2020 you received $400k in your pocket.HOWEVER, in 2029, you must then pay it back.

A holder of a note with mortgage/DOT is a lender and controls the property through the security instrument with the borrower carrying the burden of ownership liabilities. 

After all remodel/carry/selling costs, we cleared $32k. 

Hello,I’ve been reading up on carry over basis, but I have a specific question I’ve been trying to find the answer to.My grandmother transferred a house to me and my twin brother. 

If the space is nice find a way to duplex down the first floor so you have a two level first floor unit which carries far less risk and will get you more income for that unit.  

The reduced price and additional carrying costs will easily offset the realtor fees you're "saving."

Otherwise, with carry-forwards, you prob wouldn't be paying income taxes for a while. 

@Daniel PurcellWith the resent rate cut, I'd be going for the 30 yr fixed rate money assuming you can carry the payment.

I was 25, didn’t know much about owning real estate so didn’t want to get too carried away.

We carry our own contracts and any reputable contractor will have there own contracts.