At that time of conversion, the "adjusted basis" of the property for is  - your original basis - a depreciation that you already took,  So when you go rent it out after moving in and renovating it, the depreciation starts over27.5 years but with the adjusted basis ( or FMV if lower). 

Definitely a conversation with an attorney is in order.

I’m thinking about buying a foreclosure using a private lender in Cali, then refinancing it once it’s all fixed up.

With condo conversions carving up the few we have, the number that exists continue to shrink.

Again my key points are:Multi family,  creative finance, seller carry, hard money, private money, BRRRR, mobile home park investing, financing, VA loans, veterans in real estate. 

I know one Appfolio user that has been with them for 13 years and he not only switched to Propertyware, he wrote a scathing review because of Appfolio's terrible customer service and other limitations.For most private investors managing their own rentals, I think TenantCloud, Cozy, or rentecdirect are really good options.

I recently spoke with someone at my work who opened my eyes to this world and I definitely wish I had that conversation earlier in my life but I am a firm believer that it is never too late to get started.Thank you,Frankie Richiez

Thank youI know the rents and specifics of the units Im more interested in bringing in a partner or private money to get started but will definitely compare it to financing.Again, thank you for the great insight!

Full time Residential General Contractor English / Spanish (Charleston)compensation: average project 50k labor + materials employment type: contract A private real estate investment company is searching for a construction company that can handle full residential remodels in Charleston, anything from taking a home down to the studs, and putting it back together to simple cosmetic projects, that include, laying tile, laminate, assembling cabinets, drywall, texture, paint, carpentry, plumbing, electrical.Plan is to start with 2-3 flips per month, and scale to 5-10 projects per month.

Right now I have on the following on my radar:$3k (immediate): W/D and hookups$15k (~2 years): 2x heating conversion to natural gas and baseboard heating for 3rd floor$15k (~5 years): House sidingI've budgeted $500/month for capex and am putting it into a savings account.Down the line, once i'm under 80% LTV (5 years w/o appreciation), I'm not certain if I should consider using a HELOC for capex or try to rely on a savings account.