I am assuming the house is not in a great neighborhood.However, if he is not in a rush, I bet you can find a buyer in 150-185 range because it is still a cheap investment for out of state investors.Your main problem, you will need a cash buyer.

My experience has been that new investors have 4 main concerns that have to be resolved before they will invest: 1.

Or you could always utilize private money.The biggest point to take home is to ensure you do your due-diligence, ensure that the numbers work with utilizing a hard money lender as they typically or more-so for short-term purposes because of their higher interests, short-term loans, and other fees/expenses.Good luck

My main concern is that I will be making about $350,000 profit on sale and not sure how the transferring to an LLC will affect me tax wise.

They must be purchased through a Series 7 licensed advisor (I am one) but can be an option for completely deferring any capital gains for tax purposes.

What is your opinion on getting property in palm springs, california for investment purpose?

Aside all this, I still hold a full-time job and am very lucky to work with my wife who handles the main chunk of work during business hours, speaking with buyers, sellers, other agents, and pushing through transactions to the closing table.

Based on “substance over form” principles, it ruled that the IRA did not really own Roth Inc for two main reasons:• The IRA’ were exposed to no significant risk; and• An independent person in the IRA’s shoes could not realistically have expected a benefit.Since the IRA did not really “own” Roth Inc, the income really belonged to the taxpayer – and putting that money into the IRA resulted in a taxable “excess contribution”.More specifically, the court held that a $500 investment, absent any other significant risk, does not give rise to any real risk for the IRA.

The main one being it needs rewired.

@Tim Watkins, it sounds like you have a 2-person LLC, and assuming you did not elect to be treated as a corporation, it will be treated as a partnership for tax purposes.