I am 22 years old from New York, trying to gain the knowledge needed to start my real estate journey.

In addition, Ms.

With this $50k I could finance one additional property. 

The step-up in basis allows children who inherit property upon their parent’s death to sell the property and avoid paying capital gains tax on its appreciated value.

We are currently in probate, and I'm debating on what to do with the property. the loss of my parents and the gain of the property really gave me a chance to make a life changing experience.

Also if he has his own liability insurance, my home is insured what added benefit does getting me added as additionally insured provide? 

Avoid the MASSIVE capital gains and recapture tax you’d owe If changed ownership.

It's reassuring to realize I'm on the right track, and even more so, to be part of a nurturing community where forming connections with investors and gaining insights from seasoned experts like you is highly valued.

I have cleaners come through once a month and that is my touch point...but that is it and it has been the most passive strategy I have come across.Disadvantages: - Screening Processes: You will need to build additional processes around screening these tenants like a LTR.

I suggest you send them a letter/email detailed the additional costs from the damages and demand payment.