While we were out driving around, we saw a small motel with a little for sale sign.

Purchase price: $130,000 Cash invested: $9,000 Sale price: $185,000 I did not have the knowledge then to keep the property and pull money out to complete renovations to another property we purchased a year after this one that required a complete overhaul.

Drive around your area and find homes that are currently being remodeled (big dumpster outside, several crews/contractors) get out of the car and see if the investor is there if not talk to guy in charge and network with them. 

My truck is a 2010 and my wife's car is a 2016. 

To get a umbrella insurance pushed me to pay so much on my car insurance.Huiping

Cars everywhere. 

There is also a 3 car garage in the back, which could be rented separately and room to store an RV in the back as well.

I drove Uber with her car at night while she was at school because I didn’t have a car I only had a motorcycle.

We knew it was a risk and would be wasted money if the sale did not close.

This approach can help you scale your portfolio while minimizing taxes.Key Tax Considerations:Tax-Free Profits – Each sale qualifies for capital gains exclusion if you meet the 2-year rule.Watch for Depreciation Recapture – If you rent it out before selling, any depreciation you claimed will be taxed at a maximum of 25% for Section 1250 property.Choose Properties Wisely – Focus on homes where renovations bring real value—avoid over-improving beyond the neighborhood.1031 Exchange Option – If you decide to hold a property instead of selling, a 1031 exchange can defer capital gains taxes.California Taxes Still Apply – Unlike federal law, California may still tax a portion of your gains.Potential Risks:Market Fluctuations – You may need to hold longer if the market shifts.Renovation Costs in LA – Budget carefully, as construction expenses can be high.