No one cares if you become an RE investor or not.

You could ask your accountant if taking that hit in taxes would help take care of some potential capital gains taxes.

Guess I'd just have to be careful the county doesn't find out what I'm doing ;) Guess we'll see what happens. 

We started with a total of $50,000 from 3 partners and a promise of an additional $30,000 from one of the partners.

After filling it with my purchased items a couple times it was pretty much a normal rehab.If it's a listing, you could try to find a cleanout company that will agree to be paid out of escrow, or there are lending programs that offer home renovation loans to fix up homes to be sold.Be careful working with wholesalers as an agent.

I will do deals in HEB, but I'm very careful with them.Frisco is the tale of 2 cities. 

Even if you don't agree with my numbers and need to decrease the return by 5% it's STILL ahead of an index fund.As you can see from the link above, over 30 years I would see a 23.98% gain EACH year.

Be careful about due on sale clauses. 

On one side it is nice he is taking care, BUT  I am worried about falling into a game of repairs and maybe rent deductions all the time.

Shouldn’t be that big of an issue to fix or resolve.