The ones that did finish I found to be extremely helpful.

But supposedly finally they gave “right” numbers and K. verified them and was satisfied with the info.

The residence is effectively retained with no current tax cost because the gain on the sale is excluded under IRC Sec. 121 (provided all the requirements of IRC Sec. 121 are satisfied)In Ltr.

It’s true that many of the skills required for various asset classes are transferrable, but each asset class, market, and business plan have unique challenges that operators can only perfect by working in those situations over a significant amount of time.If an operator is new to a certain asset class or business plan, it is extremely important to know that they have been successful in other areas.

Did they have to do ozonation treatments or any other extreme odor remediation?

As is, this property looks like it’s extremely over-priced, but the reality is just that it’s underperforming.  

If a bank were to look at this situation would we be able to take both of our salaries to satisfies the banks debt to income ratio or would it be all on me because I am the domestic resident?

@Matthew Metros: There are too many mistakes here and as a noob, you have to be extremely careful. 

@Dave Foster please chime in on the two dollar amount conditions, and of course any other thoughts you may have.if you don't transfer enough to satisfy the requirements, the "excess" is considered what as call the "boot" and you just pay taxes on that amount.Just remember, before you start that this track that once you start you kinda need to keep going until you "drop" --- i.e. die. 

It is extremely important to watch your dates and get the documents you need.