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!

While other banks will allow 10 on credit and then allow you to switch to a DSCR or actual portfolio loan to free up credit.

Our state licensing department provides the list of licensees for free upon request. 

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Bridge Loan: A bridge loan could provide the $150,000 you need until your tenant-free property sells.

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If she lives rent-free, you retain control of the property but lose the ability to claim rental-related deductions.For long-term planning, consult a CPA and attorney to ensure compliance with tax rules and align ownership structure with your goals, including potential conversion to a rental or estate planning considerations.

A few thoughts on that:1) The reason those accounts are “administratively unfeasible” is that they were so cheap that nobody (like say Inspira) wanted them, even for free.