The calculation involves:Selling Price: $1,075,000Original Purchase Price: $355,000Depreciation Recapture: $105,300 (taxed at 25%)Capital Gains: Sale price minus original cost, minus depreciation, minus selling costs (~15-20% federal capital gains rate for their income bracket).State Taxes: Since the property is in California, state capital gains taxes will also apply.Given the multiple layers, I’d highly recommend your parents work with both a CPA experienced in real estate and a qualified intermediary for the 1031 if they choose that route.If you need recommendations for professionals in Illinois or California, feel free to ask!

That alone can free up so many avenues for you.  

Feel free to reach out if you ever have any questions!

Alec,The free services go a long way to giving you a pretty good idea for what a property’s demand will be.

Hope all of that makes sense but feel free to post with anything else. 

They can sell tax free.

@Adriana Cortez$6k is insaneI can send you a free video on how to do this in 15 minutes AND 99.99% of people do not need a holding company.

A lot of what you're paying for is free / reduced with Baselane. 

For me I am free pretty much always now:)

Here’s the context:The house appears vacant, with a large tree that has fallen on the property.From what I can see, the house seems full of furniture and might even be a hoarder home.I’ve skip-traced the property and found that the owner has unfortunately passed away.The house seems to be mortgage-free, and I’ve identified three phone numbers associated with the son, who I believe is the heir.I’d like to reach out to the son to express my interest in purchasing the property, but I want to ensure I do so respectfully while also gathering the right information.Here are my questions:What’s the best way to approach the heir while showing my condolences for their loss?