But that allowance phase out if your AGI (married or not) goes over $100K and is gone if your AGI is over $150K.

For estates and trusts, the tax equals 3.8% of the lesser of undistributed net investment income or adjusted gross income over the dollar amount at which the highest trust and estate tax bracket begins.For married individuals filing a joint return and surviving spouses, the threshold amount is $250,000; for married taxpayers filing separately, it is $125,000; and for other individuals it is $200,000.Net investment income means investment income reduced by deductions properly allocable to that income.

My oldest went to a local community college for a few years and ended up getting married and dropped out, my youngest decided to take a year off and work to save money.

Here are some of the quick facts about myself to help out:-I'm 25 years old-I'm an accountant at an oil & gas company-Make 60K year (decent for Tulsa, OK)-No kids, not married, 1K in debt at 0% through 2009-Car payment of $350 per month (no other outstanding debt, no school loans etc)-Rent from a friend in an extremly nice home at $425 a month + half bills (this is a steal)-I just finished my business plan for real estate investing-Created a company website at www.fcfinvestmentgroup.com (still under construction)-I have financing up to 125K @ 3.0% on a line of credit from my investor (my dad) -My dad works at a real estate company specializing in commercial and multi-family home residential real estate so he will be extremly valuable in helping me (although residential homes will be somewhat different)So here are my concerns/thoughts.

He's going to stammer and be embarrassed and have excuses but you married him, time to get him cooking bacon or if he is mortally injured to release all liens and get someone else started today. 

When the seller is still a part of the deal, with a reduced % return, the deal must be good enough to make this work for them.One of the reasons we did this was to "marry" the REI in states with very high (CA, NY, etc...) cost for their properties, making it very hard if not impossible to cash flow.  

I'm only 27, married no kids, $100k in retirement savings, very smart when it comes to finances.

Family members get sick or sometimes die or even get married and there will be questions about what was the agreement, what are the terms, how are you computing the interest and what is still owed.

I've actually done a few with a cash buyer, one of them being extremely messy with 5 brothers and sisters, all married andNO will.

If you stay for 2 years you and sell then sell the home, you could take the gains/profits tax free (up to $250k single/$500k married).