You can indefinitely defer the tax and use it to purchase nicer property/properties, as well as not have to recapture any depreciation.

Purchased a little too high at the buy (I knew it at the time too), does a little better than breaking even on cashflow, and took too long to rehab.

Quote from @Laurens Van swol: We are exploring the possibility of purchasing an investment property in Florida.

How we purchased our property: Combination of Savings, Personal Loan with interest from a family member (4% interest) and a cash loan from Wells at about 8%.

But you have to purchase new investment property of at least as much as your net sale to avoid tax. 

I live in San Diego and am trying to purchase my first investment property I have about 150K to put down but am struggling to find deals that meet my price point. 

Purchase price: $220,000 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with our partner Archie Raglin, successfully purchased a property on Outlook St, Mission, KS, for $220,000 on 12/30/2024.

Thank you so much for taking the time to respond.Here’s where I’m at in my journey:I don’t plan to rush into purchasing my first property.

Current value of paid off property is roughly 350k , looking to borrow 75k-100k down payment to  purchase a 275k commercial property.

Quote from @Kyle Harris: I'm a new investor and looking to learn as much as I can this year and hopefully make a purchase on a multifamily unit by the end of 2025.