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).

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.

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?

Thank you for sharing this Michael.John is spot-on about what a quality human being Quincy is and what a great role he has played in building the self-directed investment industry over the last 20 years. 

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.

Interesting to see the flip in the last 2 years.

For a little background - I have been taking a big loss on this property for the last year for reasons out of the control of my property managers.What would you do in this situation?

Her health is OK, but it's going to drop quickly if we don't find a way to get her active and lose some weight. 

One last follow-up question.On one of the IRS forms, I found the language pasted below.

I have very rarely sold a property over the last 35 years and the income properties I hold now cash flow very well with not to much effort involved.