Our exemption in state law mirrors the federal law.

According to https://www.nerdwallet.com/blog/mortgages/va-home-loan-limit-and-funding-fee-changes-2020/:"Loan limits will still apply in 2020 to veterans who have one or more active VA loans or have defaulted on a previous loan...Those VA loan limits are the same as the ones set by the Federal Housing Finance Agency on conforming loans.

And it's a process that leaves the door wide open for liability in discrimination and fair housing complaints if not done right.Unfortunately, we all see the forum threads on here about people who advertised their property without identifying their screening criteria first or educating themselves on federal and state fair housing.

The fact that he owned the property for 25 years would make me assume that the tax basis is very low.Depending on his tax bracket, he may be paying 0%, 15% or 20% in federal capital gains tax rate + state income taxes.He can potentially do a 1031 on this but i personally think the amount of gain/tax wouldn't make it worth it.You now have a property that is costed $20,000 where you will put in $45,000.You will report a $20,000 gain less selling expenses if you sell it for $85,000.If you have it as a rental, you can depreciate the property over its useful life.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC.

Once you have shown your taxable income you shouldn't have a problem.

As if you required more confirmation, even the federal trades commission advises term life insurance coverage as a good way to conserve money.The three main factors they give for suggesting entire life are: 1) entire life insurance lasts the duration of your whole life so you don't have to fret about renewal or possible health declines that might increase your life insurance rates on term renewal; 2) entire life insurance can be utilized as a retirement financial investment; 3) if you need to choose you want to have life insurance for your surviving family, whole life insurance coverage will offer that extra web of security.These reasons miss some very important truths about whole life insurance vs. term life insurance coverage dispute.

You'd just have to make sure your local jurisdiction's moratorium had similar language, and that there's nothing else that would prohibit you from proceeding with an eviction (i.e. state moratorium, federal CARES Act eviction moratorium, etc).

The way Cuomo is blackmailing the President by holding NY hostage to commandeer federal money for our mismanaged state, I could be waiting a mighty long time if I wait for the "coast to be clear" to raise rents. 

Navy federal has some good options.