Guys with problems end up gambling everything away because they've lost too much to walk away now.

So I would educate them on the fact that they were given a gift for many years, and now that you have finally chosen to raise rents to market (so that you can make the profit that you deserve) they will have to wait for a year so that you can put aside some of your new (and well deserved) rent increase to pay for their nrew floor.

@Craig Imazumiare you going to go to your chosen market in person and and put some time, legwork and networking in?

Holding onto a property merely for tax considerations is a dangerous gamble.But if you want to gamble - yes, selling in a year without a W2 job usually saves on taxes.

I know that sounds crazy, and you and I would never think to do it, but people do.At the end of the day, inheriting tenants is a gamble and risk you need to factor in.

The area does not have explicit rules on STRs so its a gamble with that strategy.

However, if you’re committed to a specific suburban area, working closely with a local agent who knows the market well could be invaluable.Working with an Agent: Starting with a knowledgeable agent in your chosen market can definitely help streamline your efforts and prevent that analysis paralysis.

Focusing just on appreciation causes people to take on negative cashflow situations, gambling that the market will eventually save them before they run out of cash.

Its a gamble to go the permit route or not in Philly and absolutely matters the neighborhood/your neighbors as they are usually the folks that will call L&I on you OR if your property is near other construction sites where inspectors would be traveling to/from.

Don't gamble.