We debated selling the rental to pay off our primary mortgage, our basis is at least $1.1m on the rental property.

He can already leave them to you at the stepped up basis.

That's what we do - every day!

Its a tight market for sure but theres many good opportunities on a daily basis, hopefully you found something that fits your buying criteria in the time frame that this was posted.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

What is their basis for this belief? 

I would just be cautious about taking on such a high cost basis this late in the cycle because when we see the next buyer’s market it will probably cut into your equity.

@Daniel Loane For your 2023 taxes, since the property wasn't in service until December 26th, most of your expenses incurred before that date will likely need to be capitalized as part of the property's basis.

Mold is a common complaint from tenants, particularly those trying to exploit you.Mold is everywhere, even in the air we breathe outside every day.

LTR buy and hold has served me very well and I think a good basis in RE for most people