Hence, to reiterate the reason for adequate research before purchasing a property. 

But you have to purchase new investment property of at least as much as your net sale to avoid tax. 

So if I’m understanding correctly, if you sell your home within 2yr of purchase, you don’t have to pay capital gains taxes? 

Quote from @Armani Diaz: Hello, I just purchased a rental property duplex through wholesaler.

I like to stay in the working class areas as they make enough to pay the rent and bills, but don't have the financial discipline to save enough to purchase their own home. 

I have never purchased anything 'perfect' but all of my rentals could have been rented as they were upon purchasing them. 

Just wanted to introduce myself and enjoying the Bigger Pockets site and forums.

Purchase price: $275,000 Cash invested: $275,000About this homeBeautiful 2 bedrooms 1 bathroom condo in the convenient location of Rowland Heights, close to bus stop, supermarket, schools, shopping centers etc. newer counter top in kitchen and bathroom. 2 parking spaces and storage room.

Also, you are not going to be able to purchase a property subject to if you are dealing with a realtor. 

We also need to add in escrowed taxes and insurance to the new terms, as previously the buyers were responsible for paying them, but we’ve recently had to take that over.Context:Subject property is a mobile home on land in the state of FL that is owner occupied by the family who purchased it from our LLC.