The goal is to pay off the house ASAP so we can have a stable income when my wife and I retire in the next 15-20 yearsLet me know your thoughts or questions by leaving a comment.Here’s a short video I made on the renovation process:

I kept the deposit since they broke the lease, but would like to get the new renter in either on or shortly after December 1st so that I'm not losing much from vacancy.

Check out the Short Term Tental forums.

There are prolly some other items you want to do before needing to communicate with a CPA.1) You should develop a real estate strategy based on your strengths - Will you be a buy and hold investor, fix and flipper or focus on short-term renting.

what is the reference date to determine long term / short term capital gains for a real property?

You can do an air pressure test but it's important to note there are no short cuts.

Typically if they have plans to move they will not want to spend any money on the space in the short term.Howe far in advance do they have to give notice to renew the lease before exercising the first option period?

When a tenant calls for a service need it's beneficial for me; it gives me another opportunity to interface with the tenant and enter their apartment on short notice.

I am trying to find a short sale or foreclosure with FHA to buy than get a 203k loan than live in one unit and rent the rest out for a goal of net 750 to 1200, equity to have 25k to 35k in the property, i have 40k cash for it could get access for more but I don't wanna tie up too much I want to leverage  my funds.

I bought and lightly fixed and sold a property; I bought and fully rehabbed another house and sold; I bought a short sale and fixed it up as my primary residence; I’m in the process of a flip that has extensive work (just closed on Wednesday); I had a rental for almost three years.