For capital improvements, get a good handy man (i.e. not through property management).

First, how does everyone handle the capital gains on a rehab project?

Obviously, multifamily has so many more advantages than a Single family home, but can have more barriers to entry.I would start by learning the business, learning how to syndicate and use seller financing, and then focus on two things if you want to invest in multifamily: Sourcing capital and sourcing deals.More units allows you to hire staff and create some economies of scale.

Hello everyone,I sold my investment property last year and realized a capital gain.

I have owned this property for almost 10 years and originally purchased with cash and of course work has been done over the years. ceramic tile in bath and kitchen, laminate wood in the rest of the rooms, cabinets and countertops, sinks in bath and kitchen, new tubs and toilet etc.. located in st louis its a 2/1 but will rehab to make 3/2 so we will be adding value to the property and will be using the rest for capital for the company as i have other deals I am looking at...

Being a licensed agent obviously saves me the commission loss, but I would like to at least hold more than a year to stay away from short term capital gains taxes.

So at a  minimum you need to be firm that the rent is enough to cover your expenses (including insurance, PM fee, capital reserves for repairs)I'd go on Facebook Marketplace and on any Facebook Groups you find for KSU Housing and post it there (at a rent rate this is actually covering your expenses) and see if you get response. 

My appreciation in North Carolina was amazing but I could not rent it for what the capital is worth.

Your mechanicals and capital expenditures are a lot more important and more expensive to fix than a pretty kitchen. its better to live in outdated kitchen and have a well kept home with updated mechanicals/roof/hvac than one that looks pretty but will start to crumble5.

Since you've lived in the apartment since 2007, you likely won’t be hit with any capital gains taxes as long as your profit is under the IRS exclusion limit ($250k for single filers or $500k for married couples).