I'm a veteran building capital for my first multifamily property.

In Chicago, the southside has an area called "Englewood" which leads the city in murders, violent crime, etc" Chicago also is the murder capital of the US (despite the strictest gun control laws in the nation a discussion for another day).

From what I know (I'm not a CPA) you do not pay capital gains tax if you sold your personal residence for up to $500k profit which includes you and your wife (250k each) .

I would ensure you get a formal partner agreement that spells out roles/responsibilities, timing, taxes (capital gains), cash flow, etc.

As you mentioned cap rated are extremely low, the only value to be found I think would be large rehab projects which would require considerable capital and have a larger degree of risk than I'm looking for now.

I love the strategy of flipping houses to build capital to add rental properties to your portfolio, in fact, that is what we have been doing with success for a few years now.

(unless you have enormous capital)and even if you had multiple cash investors ready to purchase, is it ok to not tie it up first under your name?

Your investment criteria and capital will help determine what markets to look at.Have you looked into some markets already, or are you just starting out?

If he has other capital losses to offset the capital gain that would reduce the tax burden."

This will allow me to build capital so that I can begin investing in properties of my own.