If you do that just exclude it on the sell agreement.

. (*)The US government owns the falls lake project ($1B+) These numbers exclude agencies like VA, HUD, etc.

We can write in all states, Berkshire does exclude tx and fl.

(excluding Dec.) 

etc. and if you use the bank's title co. they will skip these and exclude them in the B section exclusions on your title policy.

https://www.redfin.com/CA/Palm-Springs/3775-El-Dor...My analysis has come to:CAP RATE:  13.46%Purchase Price: $270,000Down Payment: $67,500 (25%)Monthly Mortgage: $1247.63Monthly Gross Rent Income: $3000.00Monthly Net Income (excludes mortgage): $2916.67Cash Flow after mortgage: $1669.04/monthCash on Cash Return: 29.67%Numbers look great, so what's the catch?

I put in a 30 day (business days, excluding holidays) due diligence period.

Even the damage caused is an excluded peril underneath the "water damage exclusion."

We're on corse for a ARV of $690K (which would reflect recent comps now) giving us a little over a 100% cash on cash return, excluding our monthly debt service (gotta live somewhere, right?).

This means that you can sell the property and exclude up to $250,000 in taxable gain if you are single and up to $500,000 in taxable gain if you are married.