Note this election MUST be made in the year of the dispositions.2) 1031 - There's usually no tax on gains or losses when swapping property for similar property.

Though at 1525/mth it is projected to cashflow a little less than 100/mth  -- the numbers do not include what I like to call reality numbers (vacancy loss, maintenance, capex reserves).

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?

Hey @Sidney Duquette so I am not a fan of buying properties that can't perform with the hopes that it will build equity to offset the losses.

I love to think about my vision in the ABZ format:A = Where am I right nowB = What is my most important next stepZ = What's my final destinationI try to avoid thinking or worrying about cdefg, which is almost exactly what you are doing! 

Sharing leases, profit and loss sure but no inspection. 

North Carolina, Florida and Tennessee round out the five leading growth states.And, for the fifth year in a row, California reflected the largest net loss of one-way movers, according to the data.

A number of things seem like memory loss. 

Then you can determine if you made a profit, loss or broke even.Determining your sales price can only be determined by the market. 

If they didn’t have replacement cost, what should they do to capture value and get a loss writeoff?