That's been my experience and I'm really glad I pivoted, but your location might have other mid-term niches you can capitalize on (construction, business, etc).

If converted into a rental property, renovation costs can be capitalized for depreciation deductions.Good Luck!

@Eugene Lubman Selling the property to your parents allows them to generate passive income while enabling you to perform a 1031 exchange to defer capital gains taxes.

Or, is REPS really a “free lunch” for those who qualify - they can claim an active loss reducing ordinary income today, AND get to claim passive and capital gains in the future on the appreciation?

2️⃣ Property Tax Deduction: Claim up to $10K for state & local taxes.3️⃣ Capital Gains Exclusion: Sell your home?

B) Worst case is I sell my current home, move into the foreclosure, live in it for 2 years, and then resell without the capital gains tax hit.  

A business model that has always made sense to me is teaching people how to find good deals and have them bring them to me for more critical evaluation and execution where I invest my capital beside yours.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

This is like when a seller says they don't want to pay capital gains so they want 200k on the contract and 200k in a bag.

I'm working on closing a 28 unit mixed use property in WA State using seller financing once we get the additional capital required by the seller.