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[quote=Anonymous]Okay calm down people, this is OP.  To answer a few questions, I have a SFH I own outright in addition to a few other properties.  I am much wealthier than him and don’t need his money.  We have no intention of commingling assets unless we buy something together.  There are currently no plans to do that and no reason to as my house suits us just fine.  We are both divorced and very practical.  We may get married one day but we may not.  We have been together for many years and plan to be together forever, married or not.

I should have just posted this as a hypothetical “this is my scenario and what I’m thinking of doing and help me think of things I haven’t considered” so that the circumstances didn’t take away from the actual question.

The goal of the question was to help him figure out (at his request) the most practical way to deal with his current property that will net him the highest return.  I don’t have a dog in this fight but want to help someone I love make the right decision for himself and his kids.

In regards to the value of his property- the values have fluctuated between $425k-$525k.  They’re currently around $475k or so.  If he rented it out he’d net the extra $700 or so per month in rent in addition to having someone else pay down the mortgage.  I have had at least one rental property since 2003 so I’m familiar with how to manage a property.  It’s the tax implications that give me pause.  Depreciation recapture coupled with capital gains is a concern and the reason why I can’t figure out the best route (for HIM to decide on, not my monkey or my circus).  I hope that clarifies the situation for those thinking I’m either a gold digger or trying to control this poor man. [/quote]

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