Or does the full 99,000 hit each of our credits?

You do have to hold the investment for ten years to recieve the full benefit but it worth it if you save 100% of the capital gains tax.

That being said, he can essentially pull from equity and just pay the taxes himself when he is ready.yes he's very lazy,  the house is paid off in full which was pasted down to him from his father. real estate not for everybody when April come it will make the 5th year.

If I were your tenant you would have a fight on your hands and possibly a vacant unit out of spite.There is no reason you should not be able to find a good used one on Craig's list a couple of years old for half the price or less of new. 

And now we are full learning on diferent strategies to increase our assets!

A lot of properties would be still occupied by previous owners and/or tenants and you won’t be able to go in even after you get your deed recorded (about 6-8 weeks after you make full payment).

I want to accumulate enough cash flow through multi family to be able to leave my job and focus on investing full time.

The house is uninhabitable, full of trash and fire damage.

I am in full agreement!

The house was built in 1938, it's a craftsman style home, original hardwood flooring in good shape, original windows but it very good shape, the walls and ceiling had been filled with blown insulation, had a new roof installed in 2017, and the sellers were willing to pay 5k to have the house painted to the color of your choice.