That’s a small fraction of what all that would cost in my market.

I took the time to check out his site as i was curious.. and its a mastermind.. what i think could add value is that the frequency is there to keep someone on track.. the mastermind i went to is just quarterly then you hook up on facebook and facebook is basically showing all the members and their wives on the latest and greatest world trip they took or the building they just bought.. not a lot of real help for someone trying to get from here to there.. i think in that group most of them had on going business's like myself and there is fine tuning being done IE how to run a staff how to implimnet VA's how to run your sales crews .. other types of marketing ideas and tips.. this one looked to be not quite as real estate centric but I could be wrong as he had to add in passive income which of course is the buzz word for most who think that is what is going to create a better life for them ..  

Alternatively, put it on the market and give the tenants notice keeping in mind that showing times will have to be done with 24 hours' notice to the tenants.

I know that interest rate is WELL below market.

We purchased it off market, as-is, and as it was our personal home, we renovated over time.

I would say it could be done, just need to have the following:#1 - Have great overall knowledge of that market, and better than agents.#2 - Learn how to run comps so you know the value of the property better than anyone. #3 - Have finances in order (i.e) is this going to be bought through conventional, cash, HML, etc.

Does anyone have a map breaking down the Phoenix market area ?

In your case, changing the property from a rental to your primary residence constitutes a change in use.The depreciation recapture will be calculated based on the fair market value of the building at the time of conversion, not including the land value.Since you're tearing down the existing structure, the entire amount of depreciation taken over the past two years will likely be recaptured, as the building's value at conversion will effectively be zero.The recaptured amount will be taxed as ordinary income, up to a maximum rate of 25% for residential rental property (Section 1250 property).

Hi Daniel, Columbus GA has properties much lower in price than the metro Atlanta area, you should do fine to learn your local market.

Five units and above is a commercial property, and is handled differently in the market.