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Updated over 7 years ago,
I got a problem but a good one to have
I have an opportunity to hit a home run on a property that I purchased. My option are to to brrrr or to sale. My bank verbally denied me without looking at my credit after reviewing my income statement to determine that my income wAs insufficient thanks to all the awesome tax laws that allows me to write off mileage and depreciation even though my gross came in over 120 something or the fact I own real estate some out right. So tell hell with them I said I figured I can use the liquid anyway so let's sale. Now my problem is are partner Uncle Sam do I want to give uncle Sam all that bread from my hard thought and hustles? NO !! But should I sale and pay up?Will that make me bank worthy in the land of the soft and slow money?Would a 1031 exchange be considered as income for a the bank?