In the lease he is required to give a 30 day notice. to vacate the property.

Many of the “deals” we acquired required a lot of work to be market ready.

Your holding period is added together with your parents' holding period, so I'm sure you have already met the 1 year requirement.To take the deduction, it does require an appraisal and a tax form signed by the appraiser.I'm in Tuscaloosa, also.

These have between 3 and 3.5% minimum down payments, but would obviously require a lifestyle change for the immediate time- there are hard money lenders that do not conform to traditional lending requirements.

It requires a bit of experience. 

When I went online to check them out, they seem to be affiliated with other lenders too.

As soon as you get below 100% (or whatever the required amount is) they're selling.

Some have online systems, and others require you to go in person.

Doors require cleaning and maintenance while curtains can be tossed and replaced on the cheap.

I have done things with attorneys, CPAs, stock brokers, insurance brokers and others successful in business.General business knowledge, understanding of financing requirements, knowing property valuations, maturity in personal financial matters to give general advice, understanding of the foreclosure process, legal aspects as to liability in leading someone into financial matters, fully understanding fraud issues and the differences in a general matter where fraud might be applied as generally thought of and what may constitute bank fraud causing or even attempting to cause a loss to an insured bank having different standards.