These are professionals with additional training and a stricter code of ethics.

(And then any state implications)Given this isn't pennies we're talking about- working with a qualified professional to help mitigate the tax would be your best bet. 

He negotiated a $5k discount on the purchase price, and I moved forward with the deal.Fast forward to now - after seeing water in the basement, I hired a professional to inspect it, and the news was not great.

Readers should seek professional advice.

Class A apartments have numerous amenities, professional management, and sit in desirable neighborhoods.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

But as someone who’s been in the trenches of real estate investing for almost 30 years, I continue to see some flaws.Some of the flaws I have witnessed are when tech-driven companies seem to lack backing from experienced underwriters or seasoned real estate professionals.

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

It may be worth having an experienced professional helping you and you could always try to get the seller to pay your agent’s fees.

Readers should seek professional advice.