I stand corrected—it is a cabin, not a condo.

Calculate Capital Gains:• Selling Price: $290,000• Basis: $166,667• Capital Gain = Selling Price - Basis = $290,000 - $166,667 = $123,333Depreciation Recapture• Since no depreciation has ever been taken by any owner, there will be no depreciation recapture to consider in this case.Final Capital Gains Tax Calculation• The total capital gains that Person C will be liable for upon selling the property will be $123,333.Summary• Capital Gains for Person C: $123,333• Depreciation Recapture: $0 (since no depreciation was taken)My QuestionsIs the above estimated capital gains tax correct?

To intentionally reduce the leverage more than required is a foreign concept to me.Best wishesDan, financially you are, of course, correct.  

To make sure I understand, these are done by the sellers correct?

Nicholas is correct.

If I had a penny for every time something looked okay and later learned it was not done correctly.

Hello,I have been hearing on BP podcasts that tenant turnovers can equal about $6000-8000 (one host even said up to $10k, if I recall correctly) when lost rent and repair/upgrade costs are factored together.

Great design, killer amenities, strong communication and professional photos.

Yep, the second figure has to be the correct one.

Am I correct on my thinking?