So if you had 3 rentals with losses and 2 rentals with gains, the losses from the 3 rentals would offset the other 2 rentals and the rest of the loss would be carried forward to offset other passive activity losses in future years if applicable.

And in fairness, not worth doing if you're not making more than that anyway.If he does something like this and it exceeds the SGA (Substantial Gainful Activity) limit he would lose his disability right? 

The BP forum is free and some contributors have nothing to gain and want to see others thrive.

If someone were to buy their shares, they would gain ownership of 2/3 of the business.

So if you have any additional gain left over after taking the 121 exclusion, including the depreciation recapture, you can shelter the rest in a 1031 exchange.

Quote from @Jamie Parker:I got a photo with Tom Cummings, Prolly the only real value I gained with 7-8k invested in education that year.

I myself attended local meetups when I was starting and gained insights about their experience on local market

My first thought was sell to lock in your tax free cap gain.

This approach allows you to present professionally and gain valuable insight into the process, which you can then replicate in-house for your next property.

He self-manages, is his own handyman and had to pull out the little equity he gained to pay for roofs and HVAC.