Budgeting for furniture and coordinating the time to execute or hire a designer is something we try and factor into our Pro Forma or analysis.

If not, I do not recommend sheriff sales as a first attempt.

Purchase price: $160,000 Cash invested: $40,000 Sale price: $268,000 I bought my first house in Kalispell Montana as a long term investment and possibly a rental.

However, there is a requirement that in order to defer all tax he must purchase at least as much as his net sale. 

You can’t only 1031 your portion of the LLC’s sale of the property. 

Could VRBO users from Michigan provide some clarity about the topic of sales tax/lodging tax collection and payment to the state.

If I get my sales agent license, I will need a broker sponsor.

This would likely take coordination with a tenant at some point - (ie - plenty of notice to them that they must vacate in order for you to sell the property)Since your current home is free and clear -  you could do a cash out refi or take out a new mortgage on the new house to be able to buy your paren't house and pay off the mortgage.  

I paid a flat fee of $400 to get a sales contract drawn up. 

I purchased this before deciding to get in to real estate.I am trying to decide if I should rent the property out or sale it to buy something with long term investment in mind.