But once I learned capital gain exclusion rules ( up to $500,000 of that gain if you file a joint return with your spouse), I am confusing if I need to sell so I still get some tax benefits now or keep as it rental for 2-3yrs (can sell within 3yrs to meet the capital gain exclusion rules) or even hold even longer (pay long term gain tax in this case.)I want to invest another investment property using 30yr fixed loan even if I sell now and I am kind of confuse what will be best direction here.Can anyone advice if you have any insight?

The easiest and in my opinion safest way is to get up there and skim coat with hot mud (setting-type joint compound that you mix up out of a bag), wait for the skim coat to harden, then apply thinned all-purpose premixed joint compound with a roller, and then dab at it repeatedly with a texturing broom to achieve a random texture.

Here comes the tricky and hard part, if your contractor agrees on it, when making payments, Option1:  you will need to make joint checks to your GC AND subs or GC AND supplier.

However; it's very hard, and extremely competitive right now for spec financing, and finding a HML may be your best option.Also, you might try to find someone that owns their land free and clear to either joint venture with you, or subordinate to a construction loan.You didn't mention what you experience is, or how you would be participating.

.), then make the payment directly to the payee (not the contractor; or jointly with the contractor), and exchange that payment in return for the appropriate lien release (for your state).7.Assuming the construction contract has provisions to protect you from unauthorized extra work without advance written authorization, follow the terms of the construction contract to the letter.

I'm a real estate lawyer here in London, and I'm happy to answer any questions you may have (difference between owning investment vs. principal residence property, types of tenancy agreements, types of co-ownership/joint venture agreements, etc.). 

Hello Everyone, I have been wholesaling several years and just recently Joint Ventured with other wholesalers to bring in buyers. 

Think of it like the Army's (or any Service now with "Joint" bases) own investing groups. 

If your criteria is all applicants must have a score over 600 send an adverse action letter stating that they don't meet the criteria (they are renting jointly right?)

Last few years, we do not accept rents any method but ACH transfer after move in..no check/zelle or paypal as these can be reversed, plus the paper trail can come in handy when memories fail.