Kristen From Spotlight: Get Ready for Tax Filing—the Easy WayHow to Avoid Capital Gains Tax on a Home SalePublished on March 1, 2024When your home value goes through the roof, you may end up with capital gains when you sell.

Any feedback would be great:Purchase Price: $219,000, 90 days on the marketSurface area: 1900 sq ft1 unit renovated in the past year which includes new flooring: $800, other 2 units: $690 eachEach unit pays water/sewage, $50 internet feeCondition: roof is ~15 years old, will need replacedI was provided with an expense report for the 3rd quarter of 2023.

These people have just seen the ownership of the roof over their head change hands.

The seller (also a local agent that sold his home himself) disclosed there was a roof leak and was fixed in July 2023.

Anything built before the 70s will most likely have issues with plumbing or electrical, and roofs last about 20 years, and should be permitted most the time on county websites. 

I was left with an excessive water bill ($10k) at my 4-unit property as they failed to fix a water leak, which I complained about once I noticed a spike in the water bill.

Fun fact to keep in mind, major capex items on a 100k house and on a 800k house are pretty similar, i.e. cost of replacing a roof.   

The house needs a roof and the existing roof is very old asphalt over cedar shake so according to the roofers they need to completely remove everything down to the rafters and install 5/8th inch plywood then reroof from there (one estimate so far came in at $31k for that).  

within the next 3 - 6 months duplex /triplex in or around my area although  the funds are week due to a high DTIalthough i have a 740 credit score, some larger purchases/ home improvements ,solar /roof /windows  have led me down the borrow pay later mentality..

We talked and I told her I'd be interested in it (1800 sq built in 1952; 1+ acre fields behind that are forever wild; mid-century feel to it newer vinyl siding/newer windows/new roof).