First, buy up a block of rowhouses or a multi unit just outside the ghetto making sure it has good public transportation.Do a quick rehab.Advertise for rent in the PGN.

:(1) Purchase of this house for $100K(2) Another $50K remodeling costs(3) If I do not need to report either [1] or [2], how and when do I increase the cost basis of my house in order to reduce my tax burden when I sell it (say for $500K)?

In CT it is public info and very accessible online.

This is a reposting of the official notice of the county council's public hearing on April 15, 2015 that is one of the last steps prior to final passage.

My aunt who is the top accountant of AVIV REIT(which is currently being sold) and the Shayne Evans; Director and CEO of the University of Chicago Public Schools.

And no loans so you could easily get 4 more loans. my not be the most efficent but it would reduce risk and make getting loans eisier.

Any family making under $82K in CA can send their child to any public CA university tuition-free (and there's a "middle class" tuition-free program too). 

Or, you could rent rooms.Feasibility depends on proximity to public transportation and shopping.

And because this is a public forum with many new investors that tend to follow BP posters almost blindly I think it does a service to point out when statements are made with no foundation to back them up.. and by folks that have another agenda in doing so.

If you buy your own property, you can add value, reduce expenses, put new clauses into tenant contracts, rent it out, sell it, lease-option, and you learn from any mistakes you make.