As you note exiting any RE that does not have some appreciation of a significant amount over say a 5 to 10 year hold generally speaking is going to lead to a loss at sale.

Remember this: the answer is ALWAYS no when you ask.Having said that, I've been able to get several seller finance deals.You need to have a motivated seller who doesn't need the money at sale.

However, a huge portion of the extra monthly payments would be offset by new rental income from my current primary residence.

This treatment ensures accurate financial and tax reporting, as the credit is part of the sale transaction rather than income.This post does not create a CPA-Client relationship.

A capital improvement is not - it gets added to the basis which ultimately reduces the tax due on sale but it’s not tax deductible in the sense in reduces current income. 

As for the sale aspect, the market has softened up a little bit for sellers, but some of that is time of year.

You said a portion of this dead tree is hanging over your garage still?

Do you know how point of sale is handled?  

Facts- Property Sale/Closing date: October 21, 2024- Property Location: sold in Miami Dade County, FL- 1031 potential replacement property identification deadline: 45 day identification deadline of December 5, 2024.- Seller's residence county: Orange County, FLIRS Notice for reference: FL-2024-10 - Hurricane Milton IRS extensionhttps://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-milton-various-deadlines-postponed-to-may-1-2025-in-all-of-floridaMy Assumptions:A.

Hi All, my wife and I are based in Ojai, CA and are looking to invest nearby, primarily near Ojai or the Ventura County portion of Malibu, but possibly Santa Barbara County for the right property.