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A Wave of Zoning Law Changes Could Have Huge Impacts for Investors and Housing—Here’s What You Need to Know
The U.S. is facing a housing deficit of about 3.2 million units, and the situation is especially dire in urban areas like New York. It’s one of the reasons prospective homebuyers are finding […]
Do You Think It’s a Tough Time to Invest? It’s Not When You Can Get Deals Like This
Are you sitting on the sidelines in this market? Many investors are. There’s a lot of fear and caution. But we’re not. And you don’t need to be, either.  Of […]
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Tax, SDIRAs & Cost Segregation
HomeForumsTax, SDIRAs & Cost SegregationBuying Property from Family WAY Below Market Value
Becky Bates's profile image
Becky Bates's profile image
Becky Bates
  • from Bentonville, Arkansas
  • Member since Mar 7, 2017
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Becky Bates's profile image
Becky Bates's profile image
Becky Bates
  • from Bentonville, Arkansas
  • Member since Mar 7, 2017
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Becky Bates
  • Bentonville, AR
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Tax, SDIRAs & Cost Segregation

Buying Property from Family WAY Below Market Value

Becky Bates
  • Bentonville, AR
Posted May 2 2017, 06:26

I would like to purchase my Dads home from him as a rental property later down the road. House is free and clear. Can I legally buy this within an LLC as a buy and hold without either of us being penalized in taxes?

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