Account Closed They are also placement agents that can connect you with capital sources.

Will be relevant to the recognization gain/loss later on. 

Is it permissible to use the de minimis safe harbor election and expense the renovation costs that fall below $2,500 instead of capitalize them?

What is the best way for them to go about selling this property and will they have to pay capital gains tax?

I can refund your April rent and you can use that for hotel or i can have the garage sealed off and reduce your rent for the loss of area.I have a freshly updated 1 bedroom single family house that i haven't listed yet.

In your case it appears that cost is lesser which means you'll be paying capital gains on at least $400k +/- in the future assuming values hold.

Also a concern here is the addition being an approved/permitted spaceSection 8 not withstanding if the addition wasn't a permitted addition you'll likely will be taking a significant risk that should a tragic event take place there with a loss of life or serious injury you'll have no place to hide as most insurance companies will not pay your claims plus the civil and criminal penalties are severe!

It will be interesting to see where our market goes, but I agree that it is a great time to capitalize on the appreciated values.

Repairs, capital and misc stuff is VERY lumpy. 

I'm happy about this part: "Incumbent in the sale of Fannie Mae’s non-performing loans are requirements that buyers of these loans pursue loss mitigation that is sustainable for the borrower."