AIM: FLIP to start and build up additional liquidIty with a long term focus on the BRRRR strategy and generating sustainable cashflow through multI-family properties.

I would get your Cpa and or a tax attorney to review the transaction and help determine the most tax efficient approach - especially if $300k in taxes is at stake.  

They're very efficient and also provide whole-house AC. 

In addition, there was no refrigerator in the kitchen when we received the key.

The point is the rules and efficiency will vary from one place to another. 

Additionally, I am looking to transition my career into something more RE oriented, as I am currently a project manager in a media company, and have been in Managerial/HR positions for the past 8+ years in non-RE fields.

If you make renovations and/or additions to the property which will increase the value of the property, it is possible to refinance and pull equity out. 

I understand that the capital loss cannot be claimed.The entire intent to to practice parental largess without being subjected to additional taxes other than what is noted.Any comments or advice is much appreciated,Lawrence KaplanMarlborough, MA

Just some general numbers that I can put some additional figures to develop a profit plan.

Additionally, every property is unique with different methods and terms of financing, performance, tax consequences, etc...