So you’ll have that much more tax-sheltered rental income, which is always a good thing.The bottom lineAs you can see, the tax rules for vacation homes are complicated.If you have a vacation home that is rented for more than 14 days during the year and your personal use does not exceed the greater of (1) 14 days or (2) 10% of the rental days, the home is classified as a rental property for tax purposes.

When looking into it you must do your due diligence to see the trend of jobs 5 years out .

In California, looking to see the best way to gift a rental property to a child and best way for both parties to avoid as much tax as possible.

In California, looking to see the best way to gift a rental property to a child and best way for both parties to avoid as much tax as possible.

nice to see the drive and excitement!

See the stack chart, we are well below the levels from prior years.New Listings: 6,721; +69.29% - seems large due to Covid shut down base effects.

I can’t see the divorce agreement being enforceable now.

I'm very curious to see the answers to my inquiries there. 

Ask to see the financial filings and not just go off what they say it can get .

See the 3 things after the financials Purchase price: $390,000 I can get financing at 25% down, 5.5% amortized 25 years Per seller: 90% occupancy or higher since they owned in 2002 8 - 1 bed/1 bath at $550 per month 6 - 2 bed/1 bath at $650 per month *One of the 1 bed/1 bath has an onsite manager/handyman living for free so there is no property mgmt costs in the expenses* Owner pays water and trash 2017: Total Operating Income: $79,989.50 Expenses: - Lawn Maintenance: $1,800 - Water: $6,816 - Trash Collection: $1,740 - Pest Control: $820 - Supplies: $4,280 - Repairs: $9,852 - Insurance: $4,153 - Property Taxes: $10,515 Total Expenses: $39,976.82 NOI: $40,012.68 2016: Total Operating Income: $83,154 Expenses: - Lawn Maintenance: $1,800 - Water: $5,820 - Trash Collection: $1,680 - Pest Control: $604 - Supplies: $6,639 - Repairs: $9,910 - Insurance: $4,153 - Property Taxes: $10,521 Total Expenses: $41,127 NOI: $42,027 So if I’m all in at $115k (down payment + closing costs), assuming 40k NOI, i’m looking at 16.4% cash on cash with one unit vacant at current rents (without anything set aside for capex however) WHAT WORRIES ME: 1) No washer/dryer connections AND no laundry facility on site (would have to build a new building and run new plumbing to add one).