It's all fixable. the floor is bad in a few places... that wall in the kitchen must have had a leak for MANY years because the 2 "sistered" joists in the basement have sheared off where they meet the concrete foundation. can you imagine rotting and shearing off a 2x4 standing on the short end just by pure weight overtime?

@Patrick Liska thank you very much sir for your advice this is why I came to this site to gain knowledge from people that have been doing this far longer than myself  I truly appreciate it 

Brandon is correct in that you need other sets of eyes looking at the various issues - don't waste people's time - but use the experts to help gain your education.

I'm reading a book and the author mentions the primary residence capital gains exclusion.

@Jillian JohnsonFollowing is some information regarding the self-directed IRA LLC.The Checkbook IRA Do’sDo open the checkbook IRA bank account in the name of the LLC, not in your personal name.Do use the LLC employer identification number (EIN) when opening the checkbook IRA bank account.Do title checkbook IRA investments in the name of the LLC, not your personal name.Do pay investment expenses associated with the checkbook IRA assets (e.g. for a real-estate property, this entails paying property taxes, property insurance and repair costs) using checkbook IRA funds not personal funds.Do deposit investment gains into the checkbook IRA bank account.Do manage the checkbook IRA but do not receive compensation for doing so.Do make IRA annual contributions to the self-directed IRA first not the checkbook IRA.The Don’tsDo not use the checkbook IRA funds for your personal use.Do not use the checkbook IRA assets (e.g., for a rental property, do not live or vacation in the property).Do not perform repairs on real-estate property owned by the checkbook IRA as you are a disqualified party.Do not deposit personal funds into the checkbook IRA bank account.Court cases that support the Checkbook IRA arrangement Swanson v.

Taxable capital gain will be calculated from the adjusted tax cost and the sale price.  

You can use fancy words such as 'using leverage to enhance returns' etc. all day long, but the fact remains: if as a client I loose 50% of my premiums to commissions and fees I don't care what kind of leverage I gain as a result, it would practically be impossible to recover my losses. 

Grandmother is eligible for a Principal Residence exemption of 250k from capital gains as she has lived in the home continuously for 30+ years. 

I am a brand new investor who is looking to gain more knowledge and experience.

I love the research that is involved in finding houses, the excitement of looking, and knowledge gained thru every experience.I want to have the building blocks so I can set my children up for success.