So, I used a floor mounted, wall outlet toilet, not floor outlet, by American Standard.  

Option (2) scale the renovation back to rental standards $20,000-$25,000 refinance it for $290,000 and rent it for somewhere between $2,400-$2,600 per month which is what the property could bring after checking the rental market for the area.  

Option (2) scale the renovation back to rental standards $20,000-$25,000 refinance it for $290,000 and rent it for somewhere between $2,400-$2,600 per month which is what the property could bring after checking the rental market for the area.

Over time you could get access to better interest rates and more loan money that the standard buyer would not get.

I just wondering if this was a standard for reserves?

This is a standard retail type purchase not an investor.  

As silly as it sounds, I have never dealt with capital gains taxes before (unless TurboTax autopopulated that info for me from my financial statements lol) and I always thought this would just fall in with my standard income taxes (which are higher than 15%) unless I found a solution.  

We'd like to start an LLC to shield our personal assets, but I've seen in my research that it's significantly more difficult to receive any type of mortgage/loan through an LLC than it is through a standard mortgage. 

So, he has the means to buy and fix up properties but not the inclination to bring the properties he already owns up to a decent standard. 

I would lose.. so why go through the fight in the first place... we have them resold at a nice profit already so it worked.. my point was that I was of the same mind you were with liquidated damages clause in the EM agreement but come to find out INdy does not have them as a standard fill in the blanks like we have on the west coast.I just won my first performance case of my career last year.. it took two years and about 10k in attorney fee's.. and I was totally shocked but the judge allowed me ALL of my attorneys fee's in other cases I have won over the years the judge usually just gave us a token amount .Now this was a case were the seller and I went into contract and the seller went dark..