(no carryover unless a NET operating loss occurs)  *That means it would offset ALL of your income and then some.Depreciation that is not recaptured will carry over several years until used.

Generally any individual interested in the property sold for taxes is entitled to redeem it if his or her interest in the property will be affected by the purchaser taking complete ownership of the land, such as in the case of an individual who has a life estate in the property.Redemption must occur within the time and in the manner specified by the State and/or County statute.

Hi all,I am looking into quit-claiming my southern California property to my Grandfather's family trust and had a couple questions on any tax situations that might occur.

I'm not opposed to implementing a new technique, I'm just not familiar with this and don't want to harm the deal or disturb the seller.

If you figure roughly 7% of your gross rents for these expenses (they may not occur in year 1 or year 2 but they WILL happen) then this will help give you a better picture of your true NOI.

Charge for damages as they occur or as you find them.

Additionally, I Wanted to see if anyone had experience dealing with an underwriting type contingency where this type situation has occurred and how it panned out.

I have a family so it never occurred to me, but if you're buying a multi to owner occupy and renting a spare bedroom, that's like House-Hacking^2!

Essentially you setup your contract for a "no harm no foul scenario".

Net result is that I've agreed to another deal that should close in June.I think growing pains have occurred.