With the boot, will we save on capital gains by being an LLC, incorporated or just as a married couple.

Hopefully I will gain a whole new perspective and insight as I enter my first year as a R.E agent, working in this ever changing market/industry.

I made the mistake on my first rehab of only looking at the capital gains.

Originally posted by "Ryujin84107":The last thing is remember that the Garn-St Germain Act is the LAW and you shouldn't confuse it with the US Code I'm not sure what you mean by this, I was quoting said Act.If you remain a beneficiary (rather than making an LLC the beneficiary) you've gained no protection from law suits.

You may not gain the knowledge you seek.And lastly, about doing a commercial project back home.

I know the term safe is a relatively subjective term when it comes to real estate but I am talking more along the line of what neighborhood/area can one stand to make a fairly significant gain with a 15-25K cosmetic rehab/update?

I'm actually finding that the slower long term gains are not as appealing to me.

They are not hit with capital gains.

So the only real net benefit you gain is any interest you can gain on the $1,000 between now and when you sell.

I've owned this house for 6 years, so I'm exempt from capital gains no matter what..