And yes those in the business target those homes once a retro fit has been done your good for a period of time. but it needs to be a full flown retro fit not just jacking a corner up to make the house presentable to sell to the next person.

Hello BP, I have a 2 story corner lot home it is a 3bed 1bath, full basement and hardwood floors, central air, fenced yard and 1 car garage.

They will basically take care of everything, including getting the house Section 8 qualified, if I choose to go that route.

Hi Burns, The tax-free aspect of the 121 Exclusion (Section 121 of the Internal Revenue Code) is a very attractive strategy. 

If this is in the wrong section, I can remove and repost it, or feel free to move it if you can.Thanks.

As long as she lived in it two of the last 5 years it will qualify for the Section 121 Exclusion (Home Sale Exclusion)  That exemptions 250k of GAIN (amount over purchase price plus improvements) or 500k if you are Married filing jointly and both lived there.

my (our) best one is the $100,000 deal I syndicated with family member. i posted it in the success stories section. the house just need clean up and new appliances.

(A) Activities of a foreign limited liability partnership that do not constitute transacting business for the purpose of section 1776.86 of the Revised Code include all of the following:..........(7) Creating or acquiring indebtedness, with or without a mortgage or other security interest in property;(8) Collecting debts or foreclosing mortgages or other security interests in property securing the debts, and holding, protecting, and maintaining property so acquired;What local was the subject property located in where you forced to do this?

Since we know their situation, I'll recommend specific sections for them to read.

(there is a section of town that houses go for 5k)What are your thoughts on the deal?