With being in the highest tax bracket, the LTCG tax rate is 20% with a total tax of $140K ($700K X 20%).The couple owns their current house free and clear and they're 70 years old and want to live in the new house they'll buy for the rest of their life.

If If I could go back to that stage of my life I would want to go that route.

If you go two blocks over it looks much worse, but it is investors like us that are taking these older properties and bring them back to life. i was looking at this complete gutjob - https://www.har.com/2720-truxillo-street-6/sale_59...It could be a decent investment, assuming i could get them to go about half the price they're asking.

Though as much as I enjoy my work, I don't want to have a 'job' for the rest of my life.

New investors are well-advised to steer clear of C/D properties - the turnover, evictions, and Section 8 red tape are a hassle even for more experienced investors and the returns are rarely as good in real life as they look on paper, especially if you have to pay for a PM to manage an out of state investment.

I tried numerous times to move my mother in with me but she was now in love with her capture.

Just finished Set for Life by Scott Trench.

They get  a 100% passive monthly check which relieves any headaches of the landlord life.3.

Specifically:“The management of the property necessarily involved alterations and repairs…..it was also necessary to furnish elevator service, heat, light and water which required regular and continuous activity and the employment of labor, the buying of material and many other things which come within the definition of business”.

We want to refinance under our LLC's name but numerous lenders have told us that they'll only refinance under an individual's name.