The owner wants to minimize the capital gains tax he pays so we want to suggest to him to do a master lease to us for "x" amount of time, and we pay his lease fee and hold the rest of the money in this time we will secure a loan to buy using the money we make as part of the down payment.

You can run the Osha 30 Hour Course on the background of your computer, obtain acceptable levels of insurance and as long as you don't owe the city of Philadelphia taxes, you can get a General Contractor license in Philadelphia.

What tax benefits might you receive that could potentially offset some of your tax burden with such high income?

You make money and are expected to pay taxes. 

I know this is pretty obvious, but have you tried checking the Montgomery County property tax records or the property tax assessment records online for Silver Spring?

The house probably also has delinquent taxes etc on it as well.

Seek Legal Advice Reach out to a lawyer who can guide you through the specific laws in your area.

But, of course, I'm not a lawyer...

Could use some guidance on how to divide the business, taxes, and payouts.

Hi Mandeep,The 100 sq. ft. of exclusive landlord space could be utilized in a Business Use of Home deduction on your personal tax return, accounting for 10% of your home expenses.