It basically asks the tenant what their rent is, what security deposit they have had withheld, the length of their lease, and any known issues with their unit.

@Marcus L RobersonBased on A couple of your posts seems like you have a few basics to knock out, I’d be more than happy to answer any and all questions.

You invest money with a professional real estate investor who is basically doing (A) above and he raises money from others to buy and manage deals.

They basically turned a SFH into a duplex.

Between my experience remodeling and building houses and what I’ve learned about flipping houses, I feel like I have a grasp on the basic concepts.

@Caleb Heimsoth So basically I want to only look at 100% equity leads?

My original question was basically how to do it without being raped on taxes.

I have done some research and I have some basic understandings and questions1) Looks like I need to know a "conversion to rental date"  Is this just any date I want to pick after the 2nd house closes? 

Without a goal you are basically pulling tools out of the toolbox without a gameplan. 

I'm not a CPA so you should consult with yours, but these are the basics for your situation.Capital gains exemption on personal residence - This is the 2 years out of 5 rule, if you've lived in a home as your primary residence for 2 out of the last 5 years you get a capital gains exemption of $500k since you're married (it'd be $250k if you were single) Meaning the home can appreciate $500k or less and you'll pay no capital gains as long as you meet this 2 out of 5 requirement.