Purchased a 4 unit property in Cincinnati (Avondale) 2 months ago.

I've been investing in real estate for 10 years and have purchased and rented 50 sfh's and duplexes.

Purchase price: $785,000 Cash invested: $156,000 Short term vacation rental in Panama City Beach.

Without going into too much detail, my current situation stems from selling a previous company via partial owner financing, only for the new owner to default on the purchase, leaving me in this position.For traditional financing, I understand I’ll need at least one, if not two, years of solid credit history, tax filings, and other financial documentation.

I went through similar experience when I purchase rentals from a turnkey provider in Indianapolis.

Quote from @Nick Am: I own a rental property through a single member LLC (say LLC-A) and I am in process of purchasing another property under the same LLC-A.

When you go to sell, you're subject to tax on the amount of profit between your adjusted basis and sale price, not your purchase vs sale price.Recapture is not repaying the depreciation.

Our long term goal is to purchase and move to a remote ranch and for me to be able to quit my job around 40 years old.

Most of our loans are fully amortized and those that aren't, are 10 year balloons where we'll have more than 50% equity (at the purchase price) upon loan maturity in 2030+. 

So you wouldn’t get any depreciation on your new purchase assuming you only spent the $450k.