You'll like also need reserves of at least 6-12 months worth of PITI (principal, interest, taxes and insurance.) 5+ units can require more down, but 25%-35% is common.

Pre 2016 it was the wild west - no regs at all.

Your sibling can either take the cash for their 30% or they could do a 1031 of their own.If you and your wife file a married joint tax return then the IRS sees you as the same taxpayer. 

I usually get PPC leads or work a motivated lead source such as pre foreclosures. 

I will tell you, having personal stake in the business can create *significant* financial opportunities depending on production.

It depends on the terms of your agreement.

@Corbin HiblerYou can check with the city to see if they have programs where it gets rolled into the tax bill.

It’s a bit of a learning curve, but can be worth it for the potential benefits.As always, chat with a tax professional to make sure you’re on the right track and taking full advantage of the benefits.

. :)175 pprehab  30kcontingency 5k at least 6 month hold  depends on how much your putting down but lets figure 10k there.buyers in this price point almost always need seller assist on financing so 5k there.and then 7% sales commish250K X .93 =  232k  - 50k  has you at net loss of 18k.. 

The home is 1,841 square feet and was constructed in 2009.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.