When you file your taxes at the end of the year the accountant is going to ask you for your receipts or what and how much you want to write off using deductions.

It was $9,000 after taxes.

It will have to be a pass through/disregarded LLC to keep the tax payer the same and the 1031 valid.

Question for any and all.. we have had trouble finding a real estate investor friendly CPA, one that proactively wants to help us learn and obtain all the tax rewards with real estate. 

Assuming the liens were the mortgage, taxes, hoa etc and totaled less than the purchase price.

Once you file your 2nd year of tax returns, you may now be able to qualify for Agency Loans (FHA/Conventional).

Of course SF’s über liberal city gov absolutely hates this phenomena, and activity taxes and limits new “market rate” housing in many different ways.

NC is a great market for your goals, however it will be challenging to find inventory that has much cash flow; many people who toss money into multifamily here do it to avoid the tax bill + take the 10 year runway of growth.How much SHF RE do you currently have?

The owed amount is around $183,000 and the estimated value is around $250,000 the last time I checked.

He isn't a motivated seller.If it will rent for $1900  a month, that means to make money you have to have a payment that includes, principal, interest, prop taxes, insurance, at less than $1400 a month. $190,000 at 3% interest is P&I $801 + prop tax plus insurance a month.