This helps determine if I would be responsible for covering those costs.

But here’s something to keep in mind: when you sell a property, you usually have to deal with depreciation recapture, which is another type of tax.

It sounds like you will not have lived in the property for 2 out of the 5 years immediately prior to selling it. 

What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

There are a wide variety of amenities that will enhance the guest experience.Some lower cost ideas for 'fun amenities' could be...

Most cost segregation firms will provide a free cost/benefit analysis quote to help you determine if the tax benefits from the study will outweigh the costs.

I am thinking about selling the property as it is becoming more difficult for me to manage from a distance.

A couple years later, repairs, vacancy and turnover costs and you've actually lost money every month and you've decided to sell and buy in a more desirable area, but the property hasn't appreaciated, you have to fix it up to sell and incur transactional costs and you lose even more money. 

If it's not selling, you need to lower the price.

If you sell for $460k and it costs you say $30k to sell, you net $430k.