Bonus - you may take this exemption  once every two years.Beware - if you live in it for 2 and then rent it out for any of the other three or vice versa and you depreciate it as a business property you will have to recapture that depreciation and your gain exemption may be prorated.The 5 year period really comes into play also in that if the property you are living in was once business property and you did a 1031 exchange and later convert that into your primary residence you not only have to have lived in it for 2 out of the previous 5 years but also have owned it for 5 years.

Having already gone through the Russ Whitney (ahem) program, I didn't sign up for these.Fast forward, I came across Bigger Pockets via a random search and ... well ... wow.

You get 75% of appraised value, or $120k, when you refinance - that means you now have no money in the deal and get a $5k bonus too!)

Yeah, he will like this one, he got his 8% interest and a 5% bonus too.

You might get a bonus for a great run there, but it doesn't win the game, in the end, if you're just a bonus runner, but can't score, you're a loser in the end.

I've heard this from a few different sources I consider reputable so I trust it's true but you you may want to doublecheck.Also, I've been lurking and learning for a while now but wanted to say thanks for giving me a chance to give some helpfuland information instead of just get it (and giving me a reason to finally sign up for an account)

TimSorry you're having to "walk the high and narrow road" on this one,,,Got a suggestion though,,just food for thoughtAlways offer your contractors a bonus for finishing early ,passing inspection,& work done in a timely manner,,,,Always stipulate a fine per day over deadlines,,,,I enjoy your post and hope you come out OK on this one,,,,as my dear Latino colleagues say "You got "cajones",,,,[stones] ,,,,i.e "great intestinal fortitude"Best RegardsDave DoyleMonrovia Ca

Some states do not allow bonus depreciation to be deducted which can increase your income.My advice is look for an Enrolled Agent.

It's given me the confidence to sign up for that auction, for one thing.

InformationIn addition to those two big things, you'll definitely gain some knowledge of the industry, basic law and how things are done by getting your license, so consider that a bonus.