If nothing else, and you decide to sell with a 1031, something to consider would be trying to time the sale towards the beginning of the calendar year so it gives you max time to potentially re-invest into something that will offset the gain, and/or strategize some additional tax savings. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck. 

Whether you’re interested in emerging areas, cash flow opportunities, or long-term growth potential, we can work together to identify those neighborhoods that best align with your investment goals.I’d be more than happy to assist you in understanding the market dynamics and helping you make strategic decisions that align with your objectives.

Additionally, the property is strategically positioned within a larger development vision, which includes building 12 patio homes and two duplexes on adjacent land, further increasing the long-term value and income potential of the investment.

They have stepped in to cover repairs for me, pressured mngt to do the same, introduced me to other PM teams that would perform better, shared multiple resources with me to assist with the sale of the properties and have spent ample time helping me strategize overall about what to do with these properties.

Any amount over your adjusted basis in the property (initial cost minus depreciation) could be subject to capital gains tax unless you reinvest it strategically.2. 1033 Exchange (Involuntary Conversion): A 1033 exchange (involuntary conversion) is specifically designed for situations like fire, natural disasters, or eminent domain.

Your conservative approach to estimating income provides a solid buffer, and the strategic location adds a layer of security.

Leveraging strategic market appeal, we turned it around the same day, securing a sale at $160,000.

Our strategic improvements and targeted marketing paid off, resulting in a successful sale on 10/25/2024 for $260,000.

Now, my focus is on building a strong portfolio, deepening my industry knowledge, and creating generational wealth through strategic investments.Welcome to the area!