I'm not in the business to fight local and state governments.

@Heather Hall  In order to give you the best and most accurate answers, I would need to see the Federal Depreciation Schedule created by CPA/tax professional.

These are Trusts that have similar asset protection to a Corporation but are governed by Statutes in the State where they are formed.

There are typically 3 phases to subdivision.1: local government approval of the new plat with all the lots.

Whatever we take out will be taxed as income for both federal and state (there is no 10% penalty fee). if we pull the full amount to pay debts and for downpayment on house, that pushes her into a high tax bracket where she would pay well over $80k on taxes.Thank you, YiLan Nelson

If there is a hiccup in the renovation though, holding costs can balloon quickly so make sure you know what you're getting yourself into and there is plenty of meat on the bone before you do it  the reason hard money even exist's is the banks don't offer this product to all but the most WELL QUALIFIED borrowers if that.so there was a big sucking sound out there in the finance world for fix and flip loans for properties that are not in good enough shape to get government backed loans  save the 203k loan program.. other wise your right this is best done with your personal cash and have no loan on the property that's by far the best way to do this.

Or do the same rules at the federal level apply to state (no capital gains if held for 10 years, deferral of existing capital gains if rolled into property in opportunity zone)Best,Joe

I did a search online to check out the data on a city I was considering investing in, and saw (not a city government site) pretty troubling information about the rate of both violent and non-violent crime statistics in the area.

Can you confirm that Airbnb is not sharing the days stayed with city government?

The IRS and other federal governmental organizations generally don't do a good job at sharing information (some of the lack of info sharing is for privacy purposes), so reporting any rental income you might receive is not likely going to result in getting 'caught' by the FHA.