He asked the right questions and I could tell he was serious, so I decided to team up with him, and we purchased this run down three flat, and gut renovated the bottom unit, while increasing the rent on the top two units.

So I the owner am having to paint a large portion of house.My question is, can I deduct a calculated amount based on my time and work to do this labor?

My question to you... when does it make sense to become a private lender?

If you’re not going to make the smart move of selling tax free, and make the questionable move of being a landlord in Ca just because you already own the home…A) No LLC, it won’t help with taxes, liability, or anonymity but it will increase the cost of insurance, taxes, and any financing  (and maybe the bank calls the current mortgage  due.)B) Get an umbrella policy if you are worth more than $1M, maybe $500k  C) Don’t even THiNK about doing this yourself.

A property owner has offered to sell a home to a friend in Colorado.  The home has a septic system and water catchment(?).   I have zero experience with such properties and would like to know what type of inspections ...

My questions is how does section 121 apply in our situation(married couple)? 

Feel free to reach out if you have questions through your journey!

If you have any other questions, feel free to reach out! 

That's a great question.

My question is what should I be looking for in a broker?