It would be best to speak to a seasoned cpa to address your tax concerns. 

I found ways to be creative because I just couldn't fly 10 hours to deal with repairs or other things that came up.The main difference(s) I see between my small operation of one and something with 30+ units is that I would need a website, lawyer, CPA, and maybe a call center.

Another CPA can correct me if wrong but I don't think there's going to be any recapture here.27.5 to me implies 1250 property and if acquired after 75' means no additional depreciation to recapture.I think there would be unrecaptured 1250 in the amount of the depreciation taken previously, max 25% at ordinary rates.The total gain less unrecaptured 1250 I believe would be 1231 capital gains, not considering other factors like look back and netting rules.Also the land would be 1231 and would get capital gains treatment.And personally I would subtract selling costs as a capitalized selling cost.Amount RealizedLess: Adjusted BasisRealized Gain/LossLess: Selling ExpensesRecognized Gain 1001I could be wrong though so correct me if so.Article for those interested:Depreciation recapture in the partnership context (thetaxadviser.com)While Sec. 1250 only requires additional depreciation to be recaptured as ordinary income, Sec. 1(h)(1)(E) subjects unrecaptured Sec. 1250 gain to a maximum tax rate of 25%.

*This post does not created an attorney-client or CPA-client relationship. 

We have one lake house and we have a CPA.

@David Hersh as a PMC, we do everything we can to assist our clients.So, we have referrals to lenders, attorneys, insurance companies, CPA's, etc.

This post does not create an attorney-client or CPA-client relationship.

Otherwise it's a nightmare for attorney and CPA to protect both of you. 

Obviously not lawyer advice or CPA advice but hopefully they can give you a good starting point before figuring out your own situation better.

Hi - I have a single family house owned mostly by an Inherited SDIRA & a small percentage by myself as an in-kind distribution.  Overall behind in the process by about a year - just catching up now & could use...