., with high appreciation, you can use cash-out refinancing to buy additional properties with minimal additional capital from your savings.Lasts throughout your lifetime: For your tenants to continue paying similar rent, they must remain employed at comparable wages.

Unless you choose to remove the husband from the lease, they both remain leaseholders even if he is not living there.

Use MMR available at home depot. 1 product will kill the mold, but the stain remains, the other will remove the stain (super concentrated bleach w surfactant) so, you will need ventilation as it's strong. 

The $80k of depreciation recapture will be taxed at 25%, and the remaining $75k capital gain will be taxed at the capital gains rate (likely 15-20%).

This opportunity fell in my lap as I know the motivated seller who is willing to sell, but I'm not sure if I can get the price that he wants for it.I don't have the property under contract yet, and this is my first wholesale deal.

Lastly, when we sell the condo, can we keep the 75k + 4k renovation costs for ourselves, and then put any remaining money after the heloc is paid off into a 1031x to then invest in other properties?

Find out what is motivating them and lean in on that.

If you want to buy, give a couple Sears Outlets a call, they normally have a couple sets around and since they likely sit for a decent amount of time the store might be motivated to drop the price a bit to move it.

Without that designation, your K1 losses remain passive and can only offset passive gains.If you’re looking for a true tax deferment strategy, consider a 1031 exchange for future sales to defer capital gains by reinvesting in a similar property.

 Hey, This is a unique situation, I purchased my second property in June 2024, a single-family home that used to be a duplex, and is still zoned as a duplex ( remains 2 addresses).