The formula for your taxable amount is the difference between your net sale (contract price minus closing costs) and your adjusted cost basis (original purchase price plus capital improvements minus depreciation). 

Maybe if rates drop a bit and the market improves they can either try to refi again to pay us back or original investment or try selling later down the line. totally regret doing real estate at all - this is out of my expertise and I’m paying the price

Save yourself the time and energy and reach out to local accountants. 

If you’ve owned it for a few years there a cap on the amount they can increase the taxable value, I believe it’s 15% excluding improvements to the property.

Building a scalable real estate business requires developing a foundation that can grow efficiently without exponentially increasing operational costs.

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.

Quiet title can be done in 3 months if its done correctly and efficiently. 

That is because they end up going a different route or not having the energy and drive necessary to succeed in the multifamily space.

Anyways, I appreciate the feed back from everyone and looking forward to connecting with all who are interested in collaborations and discussions on how to be the most efficient investor you can be! 

High efficiency appliances were utilized including HVAC, light fixtures and water heater.