highlight_post=6803139&page=1#simplified-forums__discussion__replies-containerI have no reason to alert you of this danger other than honestly trying to help you avoid the trap that the rest of us fell into.FOR YOUR OWN SAKE, DO NOT BELIEVE ANYTHING MARCO OR NORADA TELLS YOU UNLESS YOU SEE IT IN WRITING AND HAVE IT VERIFIED BY YOUR LAWYER. all investments have a perfect pay record until they dont.. did you really think when you asked the question they would say..

Permitting also secures compliance and avoids fines, which can be significant in LA.This post does not create a CPA-Client relationship.

@Akil MitchellIf the city has already said the garden unit needs to be deconverted, it's probably best to avoid the property entirely.

Is there any creative way to avoid/reduce capital gains tax on the sale ?

So I try to avoid that if possible.

Of course everyone wants to avoid the most expensive but usually for the wrong reasons.  

If you own a home, you avoid the HOA fees, and you can differentiate on the property, seclusion, etc as opposed to having price wars with neighbors and needing the best interior in the building.None of that is to say you can’t make money with a condo

Consider if refinancing after increasing rents could work, and whether MTR/STR demand is strong enough to sustain long-term profitability.Keep as LTR with Minimal Cash Flow: While this avoids a cash outlay, being cash flow negative or barely breaking even isn’t sustainable long-term.

In California, a Will alone is usually not sufficient to avoid probate. 

They typically charge 1% of the financed amount but should be able to find a lender to suit your needs and hopefully avoid situations where financing falls through at the last minute.