How to petition the county for lower taxes, how to minimize vacancies, attracting top rate tenants, etc...If you made it this far, thanks for reading and I look forward to hearing from you guys soon!

This could be accomplished by holding title in a title holding trust with either the investors entity or a third party trustee in place.If I'm the rehabber, I'd prefer to minimize or eliminate any control the investor have and merely sign a note without any personal recourse.

A CPA can review the details of the situation (the age of person who died is a factor more so than her age) and advise her on minimizing the tax.

They need to know that I’m used to meeting a hard budget and getting in and out on time with minimal changes or bumps.The purpose of the work is different too.

well obviously I want my risk to be minimal but what I really want to avoid is having 100 different checking accounts that i need to keep track of whats going in to each one and what is coming out of each one.

I'll have to consider the extreme circumstances, and how the two of us would treat that..This will play out over the next year, so hopefully I'll have a good update about what ended up happening...Sorry for the delay in responding!

I find it difficult to believe that an IRS auditor would look deeper.2) A refi done very shortly after purchase can be viewed as a "delayed financing" situation.

Also, I will be living in as an owner.Type: Duplex (True duplex, not mother-in-law)Units: 2Rent: $795 / SideSQ FT: 1100 / SideYear Built: 1924Mortgage Type: FHAPurchase Price: $150,000Down Payment: $5,250 (3.5% of Purchase Price)Mortgage Payment: $875 (includes PMI, estimate only)Interest Rate: 4.25%Term: 30 yearImmediate Capital expenditure: $3000Property Management: $159 (10% of gross rent)Insurance: (need estimate)Utilities (water / trash): (need estimate)Utilities (heat / cool / elect): paid by tenantTaxes: $119 / monthHOA: noneVacancy: 1 side currently rented (I will be living in other side)Note: Recently remodeled, requires minimal immediate attention.

Property tax assessment = $410K land, $40K improvements (building) = minimal depreciation deduction.Current home will rent for at least $2200, up to $2500.Mortgage on current home = $295K, $1350/mo.Property tax on current home = $550/moHomeowners Ins on current home = $75/moCurrent home will likely not go up in value very much over the next 3 years.So, is it a better financial plan to rent the current home, and be able to take tax deductions, and assume negligible effort as a landlord, or sell the home, and invest the ~$250K cash that will come out of the sale?

My wife and I use a Chase Freedom card for our personal expenses, and that card posts almost immediately, the INK card is usually a day or 2 delayed.