Hi team,I've found a 24-unit student flat for sale near me that seems to be a pretty good deal.I was wondering if anyone has had experience in buying multi-units on a single title, then dividing them up and selling them as individual units?

Don't divide up your income with someone for no reason.List it and you'll get more comfortable with the process as you do it and everything will be fine!

Her heirs have the chance at the step up in basis.Or, if the duplex can be divided buy the half she lives in now and let her take the primary residence exemption for that half. 

Typically you would have subtracted land from the purchase price then divided by 27.5 years.  

So you will need to check at the county what subdividing requirements are and if that lot can be divided.  99% they can't. 

You do this by taking your monthly rental rate and dividing by 30.

@Michael BorgerAloha I’ve been following some debates on the forums on wholesaling and there seems to be a divide on if it’s legal or illegal.

Mostly only owner/occupiers will divide so small.

Each property’s expenses are sub-divided in to taxes, insurance, pm fees, repairs, services and utilities. 

If you do that, there should be no penalty - except for the possibility of income "lumpiness" where you made all your money in the first quarter for example, but divided the payment due on that that by four to divide up the payment over a year.Here is a link to the IRS site where some of this is explained, but note that IMO it has a typo in step 3; that step mentions 100% of 2016 but it should read 100% of 2015:https://www.irs.gov/publications/p505/15008e12.gif...I always like to get @Dave Toelkes to offer opinions when it come to income taxes, so maybe he will have some further comments.