Maybe we can learn something from each other.One thing I am learning/going through right now is taxes and what comes with that.

Living in the home for a couple years before selling could also provide some tax benefits.If you decide to sell the land with just a foundation, it may be more challenging to find a buyer willing to take on the project of building a home from scratch.

Yes, he's gotta report that rental income on his taxes.

If the fire inspector says do not enter this is a case where you could change locks but check with a lawyer.

I have recently consulted with both WealthFactory and Wealthability regarding tax and wealth planning.

That sounds like capital gains tax on $63k-$113k depending on sales price and closing costs. 

It's a cool way to learn, build equity, and score tax benefits.

You'll also need to consider ongoing costs like maintenance, taxes, and possibly financing. 

And the scam factor is huge too....They won't have local banks or other business contacts like Lawyers and CPAs...What are you guys thinking?

.- If I deduct the depreciation for tax purposes, I can't add the flooring cost as an improvement to the cost basis when I sell the property down the road correct?