He wants to focus on large ticket items for property managers: roofs, turns, hvac replacement, whole house painting, things like that.

(We're aware of the five year look back period for Medicaid eligibilty but it's not a big factor in our decision to do this.)We would get the house appraised so we can document paying FMV.House would be purchased with cash (it's a small home in a rural area and value is low)Inlaws would sign a lease so that it becomes a legitimate rental and we can deduct expenses, etc.

I realize you are a ways away but if you get an attorney involved you are looking at more time and in my experience, most people are never are happy with the out come.

Its possible underwriting might balk at a nonconforming unit because in theory it could be shut down at any time and that income could evaporate. 4.

That should play a role in investors buying decisions.

The timing of the sale at $315,000 shows how combining a long-term hold with a flip can be a highly effective approach in the right market.

Hello Chris, When you find the time please reach out to me. 

That's an overstep of your licensure which agents do ALL THE TIME.

Other times they just don’t work and you need to move on.

If you use something like Quickbooks it can track loan as it gets paid off so you can easily see how much is owed at any time.