Here’s the context:The house appears vacant, with a large tree that has fallen on the property.From what I can see, the house seems full of furniture and might even be a hoarder home.I’ve skip-traced the property and found that the owner has unfortunately passed away.The house seems to be mortgage-free, and I’ve identified three phone numbers associated with the son, who I believe is the heir.I’d like to reach out to the son to express my interest in purchasing the property, but I want to ensure I do so respectfully while also gathering the right information.Here are my questions:What’s the best way to approach the heir while showing my condolences for their loss?

If I was to trade a $300k house for a $310k house that will cost me $10k and $347/month what amount should I ask for to make up for these losses?

It's not just the taxes, but being able to at-a-glance look at expenses by the month and year, profit and loss calculating automatically, and even cash flow by property and total portfolio by month and year.Thanks for suggesting it!

Thanks to this equity growth, we were able to recover much of our initial cashflow loss.

Let the tenant vacate, and you have one month to find a replacement before you incur any losses.

If they didn’t have replacement cost, what should they do to capture value and get a loss writeoff?

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

Then you can determine if you made a profit, loss or broke even.Determining your sales price can only be determined by the market. 

While these expenses don’t provide an immediate tax benefit, they increase your property’s depreciable basis, allowing you to recover them gradually through depreciation deductions once the property is operational.

I recognize there are other ways I could invest this cash (including another property) but I am being mindful of levering myself out too much in the current environment where job losses are more common in my industry (tech).