I am trying to find out if I can include closing costs I am paying on behalf of the buyer in my capital gains calculation.  

My brother and I (who both have history of doing multiple live-in flips over the years) recently consulted with an attorney, started an LLC, purchased the BP state-specific forms, and have purchased one single-family rental thus far and are closing on a second singe family property that will be a flip later this month.

I have found time is better spent building tools to quickly analyze & procure new deals, rather than hyper-analyzing the metrics of one deal, ultimately making initial review faster & more reliable (spend time on the things that make sense, quickly remove things that don't, even junior-level staff can identify good opportunities with the tools, etc).For example, if I'm modeling a SFR to 3-4 unit scheme, I can quickly check the $/sf/mo for each of my proposed units and get a good idea of the GOI without having to manually dig through &  find rent comps in that City/Zip:- So instantly I know in Woodland Hills that a Studio is close to $5/sf/mo on avg, 1 Bedroom closer to $4/sf/mo, with the 2 & 3 Bedrooms closer to $3/sf/mo.

I like real estate so I intend to stay in the space.

How close to ASU? 

We no issues closing in an LLC, as a matter of fact most of my lenders will prefer it (assuming it is not your primary residence)Assuming it is not your primary residence, the easiest way to do this deal would be through a DSCR Loans.A DSCR Loan will use current rents or market rents if the property is vacant and personal tax return from you would NOT be required.It also referred to as a No Ratio Loan because your personal Debt To Income is not important.What is important is that the property can pay for itself.If we keep the LTV Low the rate for this loan can be better than a conventional loan.If you ARE Living in the property and you want to keep it... it would mostly depend on how motivated you are and how willing you'd be to "postpone gratification"The best bet is still a DSCR Loan.. which means you moving and renting the property out.We can bring in Asset Based Financing that can help with cash down (if you need it) or to pay cash for another property for you to reside in.Once you're moved out we can do the DSCR Loan at a 70% - 80% LTV or we can calculate a comfortable cash flow number.For example, max cash out that will give you $500 cashflow after a full PITI payment.Let's discuss more!

Would you recommend the Detroit area to be a good investment right now as I live close to it?

ET time.Job Openings and Labor Turnover Survey (JOLTS)The Job Openings and Labor Turnover Survey, commonly referred to as the JOLTS report, is another closely watched data release from the BLS that can move rates up and down.

Often times the only bill that is tied to a house is a utility bill (not power or cable which are associated with a house but tied to a person and not the property) and the new owner takes responsibility for it at closing when they take possession of the house.

Due to the excessive demand of shelter in NYC the city had to develop strategic programs to assist people with moving out of shelter and with the explosion of rent prices in NYC many people are looking to other cities close to NYC such as Newark, Irvington, Jersey City, etc.. to find apartments they can afford.