When I moved property values were down and I owed more than it was worth... plus the rent didn't cover the expenses.

Thanks to you all,One more thing though, Should the inspection cover the Lead based paint?

I wasn't sure when it's appropriate to ask for them because I wouldn't hand them out like trick or treat candy either.

The cost of the supplies is returned to the individual along with 10% to cover the time that money was tied up during the bake sale.And in the process, the nonprofit earned income from the sale of the cookies...for which it puts towards feeding the homeless for a day - its purpose.What's the tax implication?

There are a lot of fees associated with being an agent or broker - insurance, Association dues for access to MLS, etc so make sure you are doing enough deals to cover this As an agent you have to work for a broker and give a portion of commission to them, even for your own deals.As a broker, you need experience to become a broker. 

Assuming the rent from the rentals is covering all costs and debt repayment, hopefully with some positive cash flow, it would be counter investing to pay either of them down.

The plan is to get a home equity loan to cover the renovations (possibly convert to a duplex). 

I do know he owes taxes on the property but would be covered by the purchase price.Is there anyone here that can explain this process and how it should be done?

My son, since he's graduated might pay a low amount of rent, but we would cover my daughter's rent until she graduates.

It’s a Normal Sale as mentioned....sign a contract, get a title search and title insurance, go to closing, the taxes get paid out of the seller’s proceeds....assuming the purchase price covers all the outstanding liens.