Despite declining sales and increased competition, Macy's real estate assets are proving valuable, particularly as U.S. retail vacancy rates remain low.Macy's has already sold a Miami property for $36 million and expects to generate $115 million in asset-sale gains this year.

Recording affidavits and death certificates: $100 [ I gained the property by rights of survivorship and the past owner died but we need to update the title]My Questions:1.

That said, if you can gain some basic knowledge and take away a few good nuggets from a course as a newbie, then it could be a good starting point (of course the best starting point is doing what you are doing here, engaging the BP community).

Hey Sean, Ken McElroy's "The ABCs of Real Estate Investing" is a valuable tool for anyone interested in learning about the fundamentals of real estate investment.

Also, the rental was 1031, so I would have to pay taxes and cap gains right?

A long-term hold in those locations will net you great profits decades later. so much so that you'll be able to extract the equity when you need it and not be worried too much about the capital gains because the gains are so great.

Upon selling it you exchange to a like property to defer the long term capital gain.

Thank you for your very valuable insight!  

Curious to see what’s been most surprising or valuable for others.

I'm now taking out cash and funding the rest of the fix up, as well as going to gain significant cash flow.