This means you'll want to "write off" expenses related to a property you have in service because if those expenses don't benefit you this year they could in the future once you sell the property.We can get into a lot more details with the "if" "and" or "buts" BUT I think this would be the "simplest" answer without diving into your specific situation here.I hope this helps! 

My real estate journey began in 2010 with a three-family property that I lived in, renovated, and eventually turned into a profitable rental before selling it via a 1031 exchange to purchase a short-term rental.My current goal is to acquire my first multifamily property using private lending by Q1 2025 and grow my portfolio using the BRRR strategy.A question for the community: What’s been your most effective way to connect with private lenders for small multifamily properties?

Are you renting or selling the house?

Quick question in Wisconsin I have a property I want to sell on seller financing I want to transfer title not contact deed  What mortgage instrument does investors use in seller financing if I want to transfer title in Wisconsin? 

Selling that first property was a defining moment in my real estate investment journey.

Who at your firm is licensed to sell securities?

Don't sell.

I had a home down there, before the owner decided to sell it, that was a 4 bedroom home in pretty good shape, but only rented for $575 per month.

Make sure to also include in your calculation all the associated costs of those homes (maintenance, cap-x, management, vacancy, etc) then include the selling cost of the home since the appreciation isn't unlocked until you sell the home.

At 1031 Capital Solutions, we have daily conversations with landlords contemplating selling their rental properties, many of which are single-family homes or small multi-unit residences.