My last transaction is up ~$1M above costs. 

However, rental losses could be limited based on AGI if you file jointly.

Even with a shared bathroom and living room, your place is likely much nicer than the average extend-stay motel, so if your rents are competitive, then you can likely serve this avatar.You may find that a 5/2 is an acceptable temporary housing solution for a family displaced after an insurable loss (fire, flood, etc.).

I want to leave a legacy and make a lasting influence. 

@David Avetisyan If you sell your home for $510K and provide a $10K seller credit, your taxable gain is based on the net sale price of $500K ($510K - $10K credit), as seller credits reduce the gross selling price for tax purposes.Tax Impact in CaliforniaCapital Gains Calculation: Your gain is the net sale price minus your adjusted cost basis (purchase price + closing costs + capital improvements).Primary Residence Exclusion: If you’ve lived in and owned the home for at least 2 of the last 5 years, you may exclude up to $250K (single) or $500K (married) under IRC Section 121.California Tax: Capital gains are taxed as ordinary income at rates up to 13.3%.The $10K seller credit lowers your taxable gain.

How long does this period last in New York, and how does it impact the auction?

hi all I am a new investor, I just got my first duplex near scranton PA last year.

Be mindful of a gift tax implications if you sell a house for less than FMV.Also be mindful of transactions between related parties when selling at a loss.

One last thing – we recommended you create a Status column on your spreadsheet, now we’ll explain why.

Then, the last few months I find the electric bills to be exorbitant, like 3-4X normal.