At that point it is taxable at capital gain rates.Any advice would be appreciated!

Just to add more words, ditto the above.What they mean by "pass through" is that when you put money into your LLC, it is adding owner contributions, which isn't a loss or a gain.

Also you'll gain experience in trying to show a unit and the other tenant is helpful, or antagonistic, and how to handle that. 

Have a gain at closing2.

Any property that hangs on the market too long becomes ignored, people start to think something is wrong with it if others in the same price range are moving and it takes a big dip to gain attention......or take it off the market and let that perception die. 

FINALLY I’m getting some traction with my marketing efforts.

So I'd suppose it would really be a matter of doing both, gaining experience, and then doing the evaluation as constraints are met (at which point it would be straightforward, having experience)."

I just need a little or maybe big help from BP and from the people here in BP to gain knowledge about real state investing..just don't know to get started..

I think the owner died a while ago and her daughter has the property now.Before repair value - unknown, home is uninhabitable right now and might be moldy inside.After repair value - 950,000After repair rental income 3500/monthRepair costs- I'm thinking at least 150KI want to gain control of the home with little or no money down, catch up the taxes, fix it up with investor money and then either buy and hold or sell by assigning the contract.  

A benefit to him would be the interest and capital gains if he choose to seller finance it for you guys.