However, it appears you not lived it in for 1 out of the last 5 years.You can decide to live in the house for the next 2 years and use the same strategy.You can also use the like-kind exchange that was discussed.Creating an LLC will not help in your case - if anything it will just add up some administration costs.SIngle member LLC or a multi-member LLC are "pass-through" so the character and types of gain will "pass-through" from the LLC to you and your wife.

. - Lot more inventory to work with (flexibility)- I see many affordable homes 150k-250k range and multi unit homes around 250-400k range- Thinking of buying between or near UNLV university/ main strip so I have faculties, staff, students from the universities as well as employees from the casino/hotel- Property Tax is cheaper (but can be a con in other states).Con & other inputs: - I feel like Las Vegas have short term residence more than long term residence (most of the properties seems to be owners who are not purchasing to live but to use it as vacation home or short/long term rentals.... so many properties can be vacant and potentially allow squatters/long eviction process)- Nevada law require a "responsible" person aka landlord/property management within 60 miles - Distance (I like to buy my properties locally because I can stop by or fix something if needed either by myself or contractors that I work with/familiar with- Property Management fees since long distance - Finding a property management company that is reliable and trustworthy. - Unfamiliarity with the area/surroundings- Lower Rent compared to CA but I know I can't compare apples and Oranges (But I don't want to invest just to break even)------------------------------------------------------------------------ Tax questions ***Some state does not have tax on income(?)

As 'newbies' trying to enter the RE game as multi-family rental investors, we have first been working on establishing our team - asking as many questions as we can - networking with those we already know (and don't) - trying to gain knowledge and build a foundation.With that all said..My partner and I have the opportunity to meet with a attorney who specializes in both residential and commercial real estate. 

I am looking to buy a 2-unit multifamily for approx. 60-70k. It is appraised at 112k. After purchasing and renting units, when can I refinance in order to pull out HELOC and gain cash for projects on the home? Also us...

Though I haven't measured, being in them, I didn't notice it being as humid when walking through.The humidty was above 80% when it was 80+ degrees outside.

I have met three of my best contractors from this group, and none of these guys is advertising at all.

I am new and I am trying to understand how to find a good deal so I am walking throughout an analysis of a small multi-unit from loopnet.

I've seen a ton of amazing deals on paper, but when I visit I notice the house is held together with duct tape and it turns out they have no occupancy permit to be a triplex or whatever.3) The fact that it's been on for 6 weeks does tell you for some reason investors in the area are not interested - because in my experience most multi-units have investors crawling all over them on the listing day, but that could be a variety of reasons and honestly I've seen many similar deals in the slopes over the years - only way to know for sure is go see it. 

I recently came across a multi family here in Middle Georgia (Macon) that needs some work. 

80k seems really low for a "multi-family."