Therefore, you can defer taxes on the transaction when you sell an investment real estate asset to buy a replacement property of equal or greater value.It’s important to note that the capital gains tax rate varies from state to state and your tax bracket.

The real problem comes in when the unexpected happens, like a roof repair, or a boiler replacement, on top of the negative cash flow.If it was me, I would try to save more, take out less debt, to help with cash flow.

An activity is a personal service activity if it involves the performance of personal services in the fields of health (including veterinary services), law, engineering, architecture, accounting, actuarial science, performing arts, consulting, or any other trade or business in which capital isn’t a material income-producing factor.7.

@Naveen kumar VadlamudiHow many square feet for the building, and do you know replacement value?

We have cracks into our ceiling and the drywall needs to be replaced. 

- Does the "final inspection within 1 day of closing" replace my initial inspection contingency?

We have decided to go with the renting route, but we feel the mud needs to be replaced with something more appealing.

It was an older home from the 1950s we had to replace elctric plumbing and all dry wall etc. this house was a complete gut but we didnt buy it knowing that.

They expect us to replace lightbulbs, won't change furnace filters and we also have lawn maintenance issues with them.

The house needed more work than I initially thought—especially when we discovered the entire plumbing system had to be replaced from top to bottom.