Our investor put up cash.

Someone will eventually come across an opportunity that works for you.Example: I'm a real estate investor looking for a fixer-upper, single-family home or up to four units.

You typically don't want to do any renovations before the 2 years is up...just basic safety and securing the property.#4. 

And the time it was your primary residence (tax free up to the $500K exclusion).   

I am very aware that managing a property is a lot of work and has its ups and downs, but I am ready to learn and have the energy.

This means that to benefit from the separation between my personal assets and the company’s assets, I need to establish the LLC in New York State.However, I’ve found that the start-up costs and procedures for opening an LLC in New York State are significantly higher and more complex compared to other states (such as the requirement to advertise in several newspapers for an extended period).

We have over 1200 local members and business members with about 20 meet ups every month.

Wayne brought up a good point about the current occupants being able to pay the rent if they haven't been paying the taxes.  

Thank you for bringing it up and I'll update you here once it's been resolved.

House is worth 140k conservatively once fixed up.