., so you can't get financing on a condotel most of the time.

Quote from @Tiarra Delaney: Quote from : Quote from : Hi BiggerPockets community,I’m new to real estate investing and excited to learn!

I’m happy to share my perspective on communities and home types in the area.

Loaning to an LLC is much more difficult, conventional loans are out the window, and most CUs won't be interested.

If you get a good deal on the price, my suggestion would be the second route to finish the renovation and try to sell.

With a duplex you get more control, maybe more write offs, but obviously more hands on and the potential for higher vacancy.

But ya have to make some educated prognostications in life.Add this to the information your processing - What your talking about doing is eliminating around $4000 or interest expense (which is deductible anyway so really could be a real impact of eliminating $2800 or so) of debt in exchange for paying over $10K in capital gains tax (don't forget possible state gains tax as well).  

I'd make sure to run this by him too for a second opinion. 

The information contained in this post is not to be relied upon.

Suggestions on learning more about contract for deed?