@Mark Andrews To summarize….Your cap gain is $130kYour depreciation recapture taxable amount is $50kYour boot: $130 kI’ve heard varying opinions on which category, cap gains or depreciation, gets taxed first, or you “pro rate” it like you did. 

THIS POST summarizes a conversation with an agent I had once.Depending on where you are, I can recommend an agent that is an advocate for veterans and has a successful record of getting vets into homes.Conventional vs.

Otherwise, you need a pretty trustworthy person out there to describe / summarize everything for you, and somebody that you communicate well with. 

The KISS strategy summarizes well.Also, I’m thinking of condo conversion while selling the unit.

Luka summarized this in an excellent one-line! 

I am in the process of getting a no cost analysis done (connected from this post), so I’m excited to see the summarized results.On to the beach house I purchased in June:$500,000 purchase price$100,000 land valueSpread out amongst my LLC’s, I have fixed and flipped about 12 houses in 2022.

With so many investor boots on the ground attempting to navigate this unhealthy housing climate, I’ve taken a 30,000-foot view and summarized the core drivers of today’s housing shortage.Housing supply consists of 1) existing homes and 2) new construction, and both sectors have experienced dramatic inventory downturns.Starting with existing homes, as they account for ~90% of homes on the market, below are 3 reasons why the supply of existing homes has remained so stubbornly low.1.)

I’m not a huge fan of amending but when done properly you won’t have to wait two years for your income to catch up to your investing goals.The key is working with the mortgage provider BEFORE filing any of your returns, amended or otherwise.My team and I review the tax returns and run the income calcs before you file the amended return to make sure that you are not overpaying on income taxes and more importantly, we make sure that you are not filing an amended return with too little income.FYI - most accountants will fight with you and tell you that their preparation will save you money on taxes and allow you to still be approved for a mortgage, but 99% of the time that is false.I prove them wrong on a very regular basis.So, to summarize, you need a progressive mortgage provider and a progressive accountant to make this work now and in the future for you.  

There were a lot of lessons learned here so I'll try and summarize a few.

@Nathanael Leece to summarize, your housing payment would go down while at the same time you would be building equity in a property you actually own...It's hard to imagine continuing to rent is the right answer here.