Linda Weygant is fantastic but I don't think she is taking on new clients now.

Quote from @Linda Weygant: Quote from @Josh Young: Ask your CPA, but $50k is correct on the form if that was the sales price, and then your CPA will put $39k as your basis, so your short term capital gain will be $11k.

@Linda ThomasI would let her go and start the advertising/leasing process again.

@Ashish Acharya @Linda Weygant @Michael Plaks Thank you all for taking the time to respond to my question, which I recognize is a rather niche question.

Thank you @Linda Weygant.

@Linda Labbe Linda let’s connect!

@Emil KostovIn addition to what @Linda Weygant said - this thread elaborates on the situation: https://www.biggerpockets.com/...

@Jake Hottenrott or @Linda Weygant

Originally posted by Carter Jasicob:Hi Eric...A few reasons a person may choose an adjustable over a fixed rate:1) They are tight on ratio's and the only way to qualify is to get that extra little bit of a lower rate.CarterIf someone's finances are so tight that an ARM is the only way they'll qualify, they're stretched far too thin.

@Linda WeygantThanks so much Linda, very appreciative for your insight and advice, glad to hear that the person we hired seems to know what they're talking about!