Wouldn't it be nice to destroy a house short of burning it down on its 28th anniversary and find out you owe nothing to the landlord?

I am in Florida.I have a free and clear property (SFR) in which I'd like to tap the equity, but lenders wont give a HELOC or home equity loan while it is in the land trust.

If windows and roofs are on their last leg, go ahead and replace, very little chance a tenant will destroy those items.

One to set the toilet and the other gets destroyed while smashing it into, under and around the hole in the floor so no water can escape under the house.

He wont be able to help financially because he has mortgages out on 5 houses.

If you have bad title, owners throughly destroy the house, the house has hidden major defects, has had all of the copper wiring and plumbing stolen by thieves...the list goes on and on.

However, during the storm of Hurricane Sandy, a portion of the house next doors fence came down, this property is also vacant and believe it's now owned by the bank, I have placed it back up for now as I have a dog that runs around the backyard and wont come back for hours if he decided to run away.

And honestly we probably wont stop then.

Does this mean a house I bought as my primary which I am preparing to sell and expecting to make less than $250k profit wont be subjected to taxes at all??

I can't believe I have to sit idly by while they destroy the value of the home.