After a Valentines purchase as well as a couple others, I was able to convince him this was a good move.

Obviously, their capital gains are well beyond the $500k primary residence exemption. 

You will probably win when she doesn't show up, and while you will have a hard time getting the proceeds of the judgement, you can mess up a credit score pretty well with an unclaimed judgement.

@Hector Lewis - The decision ultimately depends on your current cash reserves relative to your financial needs, as well as your willingness to reinvest for potential appreciation.

I’d be happy to walk you through some alternative wealth-building and tax-saving strategies, and who knows—maybe I’ll learn something new from you as well.

It's likely you'll be able to raise the rent as well with the upgraded unit and you can look to market it during the time of rehab. 

@Toby Fellows I feel ya as I am mainly an investor as well but also hold a RE agent license.

You shouldn’t have to go to a second platform to verify a booking.I’m happy to jump on a call to review your current occupancy compared to the market, as well as “the anatomy of a statement.”

Dressers with a nice clean look that have deep drawers and smooth rollers are well over $1K and often close to $2K.

What if franchising is part of the strategy, with a long-term goal of acquiring properties as well?