Currently, you can exclude up to $250K of capital gains on a primary residence if you own it and live in it for 2 of the 5 years prior to the sale. ($500K if you're married and filing jointly.)

,The whole point of physical due diligence, prior to signing the P&S is to have an inspector/contractor check out all systems, roof etc. to make sure they are good to go. 

I was under the Impression that If I found a cash buyer prior to the auction date for the amt of the foreclosure that I could still save this mans home.

On top of that the properties I have seen were all overpriced when compared to the comps being sold elsewhere.

More importantly: Ok, so you are looking at Kansas City. did you establish a team there prior to been ready to put offers and buying something. ????

Hi Betsy,Williamsburg is fairly diverse with the majority of properties leaning toward the higher end as compared to Newport News and Hampton. 

Honestly, one way to go about this process is compare what you have to the PAR Standard Agreement of Sale.

Building permits will not be issued for the establishment of accessory dwelling unit or its occupancy prior to the applicant's submittal of evidence that a deed restriction, which sets forth the occupancy limitations prescribed by the ordinance , has been filed with the county recorder.

The other neighbor should have their house closed up and conditioned prior to the upcoming cold months. 

Those who are self-employed (wholesaling generally qualifies) can get the additional benefits of the Solo 401k including: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)