If you invest in a DPP ranch, you get to enjoy the ranch lifestyle, unleash your cowboy spirit, hunt exclusively, and have a lasting legacy.

So, this happens to work that $500k would be eligble for sec121 for which you have $500k allowance/exclusion.2.. 

And even if after 2 years you decide you want to sell to upgrade you'll still get to take advantage of the cap gains exclusion. 

@David ChinWe've used Elements credit union almost exclusively.

I also worked exclusively for a flipper doing work on his homes and project management.

Title insurance does not cover all title issues, there are exclusions and exceptions to coverage written in the policy. 

I buy 3-4 properties a month, live here and exclusively buy real estate in the area so I know how important it is to have your plan, vision and team in place

.- If I flip the house, which to me is a less attractive option, my agent gets exclusive rights to list the house as a seller.

I would suggest that you talk to a good cpa, financial adviser or estate lawyer as there are some options better than others tax wise to transfer ownership from a parent.Transfer at time of death gives you step up basis but will count toward the total estate amount and possibly generate estate tax.Transfer earlier will not get step up basis and may generate gift tax.By using LLC you can structure a partial yearly tax free transfer within the yearly gift exclusion, with a real value transferred higher than the gift exclusion amount due to the non marketability of the partial interest transferred.

Tricia HaggardI focus exclusively in a "smaller town" (~21K).