You can defer taxes indefinitely.  

When is enough enough.Do you take your 400K windfall now knowing that next year it will be $450K or do you sit on it indefinitely knowing the rent is not covering the costs of carrying the property.

If and when the market takes a downturn, you could end up holding the property indefinitely or have to sell at a loss.  

I have found: class A properties have lots of newer European carsclass B properties have lots of new Japanese/Korean carsclass C properties have lots of trucksclass D properties have lots of POS vehicles.I adjust +/- based upon the mix of the different levels and ages of cars in the neighborhood.I am not saying that the car makes the person, but it is a pretty simple matrix when doing a first evaluation of a property. 

Since we may stay in the US for an indefinite amount of time, we are thinking of expanding our rental portfolio here.After quite a bit of research and given our situation (awful local price/rent ratio), I am thinking a lot about investing in turnkeys or turnkey like deals in Kansas City these days.

most will tell you leverage to the max and its all about number of doors ... and or refi till you die.end of the day you have to be comfortable .. if vocation throws off enough cash flow to debt service all your units if they were vacant for a year or so or indefinitely then I personally feel your not taking a huge risk.. unless job security is an issue. 

If you live in the property you must qualify for one of the exemptions in sec 121 - live in the property for 2 out of the previous 5 years and then you get the first $250K ($500K if married) of profit tax free.If you own investment property and want to sell and purchase other investment property but defer paying the tax indefinitely you can do a 1031 exchange.  1031 - investment property121 - primary residence

Pros: Looking to rent long-term/indefinitely, doesn't plan to move as he wants to be in this neighborhood.

I'm refinancing my primary residence (2-unit, owe $30k), assessed value is $168-180k, that I plan to hold indefinitely.

If she expects to clear a few hundred a month under the deal indefinitely and get half the appreciation in the property I would think the finder’s fee might need to be substantial.