I would still buy supplies but labor would be in exchange for him living in my rental which if i did it would be the least income producing one it rents for $500.

Thanks in advance for the help and contribution(s) to this threadSo, I currently own a property that produces $1,500 per month in rental income, and my own personal PITI I $500 per month .... for a monthly cashflow of $1,000From here, I am considering doing either of the following......1. a Cash Out refi. , and using this money for the either down payment of 20% to purchase a $80,000 - $100,000 property that is an REO here in my area, which would give me a PITI of around $600 a month , and I can easily rent a property in this price range in my area for around $1,100 - $1,200 per month .... for a monthly cash flow of around $500 - $600 per month.I could then "Hopefully" do a No-Seasoning Cash-Out refi ( since I'll be purchasing the property as an Investor/Investment Property )....

However, the way we're set up, a county clerk will file just about any deed.  

I would be concerned about vandalism to the unit once you get it back in shape and having a report on file may be helpful if something does happen.

It's the ethical thing to do.For what it's worth you may want to try and file an Errors & Omissions claim against your insurance company or the agency who wrote the policy.

They also provide legal and tax support and will also make sure that all necessary filings with the state are completed on time.

Rather then simply filing the profit as ordinary income, I would have really liked to see it as long term cap gain if possible.

If I can successfully file a compliant to the property Taxes and separate out the Stoves, Refrigerators, Dish Washers,  Air conditioning units.  

I have been working with a private equity partner who will fund a project if it will produce a high return for them. 

There should be a document titled Petition for Probate in the file.