Barring some complications (such as her having sold her previous home recently), you should get the full $500k exclusion, but you will need to pay tax on $30k of accumulated depreciation.

Yeah I was shocked at how easy it was to get approved through CapitalOne, I’m grateful I have focused on building my credit score since I was young.I agree it’s an overly complicated way to do RE investing.

Good day Bigger Pockets Fam,Has anyone here ever done a For Sale By Owner transaction, and if so, I wanted to hear about your experience and how easy/complicated it was to close that deal without using an agent.

A few things to consider: are you increasing rent each year to at least try to recoup some of the additional costs (everything goes up, so why should the family member not pay more-if it is your parents, it is more complicated), how much has the condo appreciated over the last 3 years since you bought it, and what would you do with the money when you sold?

As also written above, figuring out who has standing can get complicated. 

I mainly invest in SFH because I think the appreciation and total return over the next 5 years is better than MF and it’s actually less complicated but I know it doesn’t cash flow AT ALL and it’s ok, I’m building long term wealth not cash flow. 

This is causing unnecessary distractions and taking away from your ability to focus on the action items that matter most: building meaningful industry relationships and sourcing investment opportunities.

This would be the most expensive and complicated option and I would not recommend it unless the other options are not possibleIf you have any questions on the above or would like to know what carriers we use in NY please PM me.

I much prefer a lease that doesn't have a bunch of unnecessary special cases spelled out.

It gets really complicated at that point.